Beef Quarterly Q1 2023: China’s Reopening Provides Opportunities for Beef

Retail and farmgate beef prices cracked records in many regions in 2022, driven by elevated consumer demand and tight beef supplies. Brazil also achieved record export volumes and returns in 2022, thanks to growing Chinese demand.

The softening in consumer sentiment and subsequent weaker beef pricing in late 2022 has flowed through into early 2023. While beef supply settings are favorable for beef prices, consumer confidence will continue to be tested and have a bearing on beef returns. China will remain a focal point, as the world watches to see...

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