TwitterLinkedinWhatsAppTelegramTelegram
0
Read this article in:

Uncertainties in the global pork sector for 2023 - Rabobank's Q1 report

According to Rabobank's report, "Global Pork Quarterly Q1 2023," supply is expected to be tight in the first quarter, with consumption facing uncertainty. Global pork trade will likely be limited. Rising inflation and high stock accumulated in 2022 will pressure import needs.

3 February 2023
TwitterLinkedinWhatsAppTelegramTelegram
0

Rabobank expects pork trade to increase modestly in the first quarter of 2023, mainly due to a low base last year. However, it may find growth difficult to sustain through 2023, given the slow production in major exporting regions, mainly the EU and US. By contrast, Brazil, which continued to grow exports in 2022, is expected to increase production and exports this year. The further recovery/growth in local production in Southeast Asia and China will mean demand for imports eases, particularly in the second half of 2023.

China re-opening raises opportunities but also uncertainties regarding the global supply/demand balance. When, and by how much China’s demand will rebound is uncertain. Rabobank expects demand to evolve unevenly, due to ongoing Covid waves, macroeconomic headwinds, and weak business confidence.

North America: The US herd is at an inflection point as the US herd returns to growth, but growth slows in Mexico and Canada. Exports are stronger from the US and Canada as pork is competitive in key markets.

Europe: Pork production is set to tighten further in 2023, with few exceptions. Pig carcass prices remain supported by tight supply and high input costs.

China: Pork prices plunge on short-term volatility, oversupply, and weak demand on high Covid infection numbers. Demand is expected to rebound late in the first quarter.

Brazil: Easing feed prices should improve margins but Brazil needs stronger Chinese demand to balance supply growth

Southeast Asia: Southeast Asia will see strong production growth despite ASF impacts and high input costs in 2022. Continuous growth is expected in 2023.

Japan: Pork consumption manages to remain flat and storage capacity will not allow imports to increase.

February 2, 2023/ Rabobank.
https://research.rabobank.com

Article Comments

This area is not intended to be a place to consult authors about their articles, but rather a place for open discussion among pig333.com users.
Leave a new Comment

Access restricted to 333 users. In order to post a comment you must be logged in.

Related products in the shop

The shop specialized in the pig sector
Advice and technical service
More than 120 brands and manufacturers

Related articles

Swine News

Swine industry news in your email

You are not subscribed to this list

Log in and sign up on the list