Chinese Beef Production Slipping, Pork Production is Rising
BEIJING, CHINA – Global beef production for 2021 is fractionally lower at 61.2 million tons primarily due to declines in China and the United States.
According to the Foreign Agriculture Service (FAS), Chinese consumption is expected to be 3 percent lower (6.7 million tons) on lower than expected production in the past year.
Global beef exports for this year remain unchanged at 10.8 million tons. Global pork production for 2021 is revised up nearly 2 percent to 103.8 million tons due to the Chinese hog sector’s ongoing recovery from ASF. Elevated prices continue to incentivize producers to expand their herds, resulting in the production forecast for China being revised 5 percent higher.
However, despite upward revisions, China’s production is still expected to remain below pre-ASF levels as rising costs and animal management challenges generate headwinds.
(SOURCE: All Ag News)