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U.S. - Beef (Cattle Meat) - Market Analysis, Forecast, Size, Trends and Insights
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Article Publishing Date: Jun 7, 2021

U.S. Beef Market Will Face Rising Prices Due to Expected Livestock Curbs

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IndexBox has just published a new report: 'U.S. - Beef (Cattle Meat) - Market Analysis, Forecast, Size, Trends and Insights'. Here is a summary of the report's key findings.

Despite prices remaining consistent in the first half of 2021, an increase is expected in the immediate term. The projected 2% fall in the American cattle population by 2022 threatens to increase beef prices by near 5%. Investment into the alternative protein sector has dramatically increased; and the emerging food inflation mitigates income growth from counter-covid support measures, which may hamper the beef market growth. 

Key Trends and Insights 

In the first half of 2021, prices remained unchanged against the end of 2020. Previously, beef prices in the U.S. surged on average by 10-14% in May 2020 when the first outbreak of the pandemic was recorded. They remained high until June and then fell slightly in August, stabilizing at around $4 to $9.3 per pound, depending on the type of beef, through to the end of the year. 

Beef production is set to fall by 2% in 2021, owing to the decline in the cattle population. The dry weather conditions have led to the depletion of grazing land and the increased cost of animal feed; farmers are now being forced to quicken cattle slaughter and curb the number of livestock. Against a sustained demand for beef, these factors may cause meat prices to rise by 5% on average in 2022

Rising soybean prices could also accelerate the costs of cattle meals. Expectations of further price increases accelerate not only the price for beef but the overall food inflation in the U.S. Should the inflation not be curbed by monetary authorities, it is to offset the positive impact of the government support measures on income growth and hamper consumer spending, which will spill over to the beef market.

A significant volume of beef and lamb imports are sent to the U.S. from Canada, Australia and Mexico. Canada is also experiencing a fall in the number of head of cattle, while the Australian Department of Agriculture, Water and the Environment is forecasting an increase in the cattle population over 2021-2022, which is to propel exports and mitigate the beef price growth. These factors should consolidate Australia's position on the American beef market. 

The alternative protein market is currently seeing robust expansion. Investment into this sector in 2020 trebled, reaching $3.1В. This may also constrain the growth of the American beef market, particularly taking into account rising prices. 

The growing population and the established culture of beef consumption remain key drivers behind beef consumption in the U.S. Despite the above-mentioned risks, the American beef market is forecast to expand gradually to 13.5M tonnes by 2030 (IndexBox estimates).

U.S. Beef Production

In 2020, beef production increased by 0.3% to 12M tonnes, rising for the fourth consecutive year after four years of decline. In general, production showed a relatively flat trend pattern. The most prominent growth rate was recorded in 2017 when the production volume increased by 3.8% y-o-y. Over the period under review, production reached the peak volume in 2020 and is expected to retain growth in the immediate term. 

In value terms, beef production dropped slightly to $86.1B in 2020. The total output value increased at an average annual rate of +2.4% from 2012 to 2020; the trend pattern remained relatively stable, with noticeable fluctuations observed throughout the analyzed period. 

U.S. Beef Imports

In 2020, supplies from abroad of cattle meat increased by 9.6% to 1.1M tonnes, rising for the third year in a row after two years of decline. In value terms, beef imports rose sharply to $6.4B in 2020. 

Canada (282K tonnes), Mexico (239K tonnes) and Australia (219K tonnes) were the main suppliers of beef imports to the U.S., together comprising 69% of total imports. New Zealand, Nicaragua, Uruguay and Argentina lagged somewhat behind, accounting for a further 27%.

In value terms, the largest beef suppliers to the U.S. were Canada ($1.7B), Australia ($1.5B) and Mexico ($1.4B), with a combined 71% share of total imports. These countries were followed by New Zealand, Nicaragua, Uruguay and Argentina, which together accounted for a further 25%.

In 2020, the average beef import price amounted to $5,996 per tonne, increasing by 4.9% against the previous year. Over the last eight years, it increased at an average annual rate of +2.6%. The growth pace was the most rapid in 2014, an increase of 15% year-to-year. 

Average prices varied somewhat amongst the major supplying countries. In 2020, the highest prices were recorded for prices from Australia ($6,912 per tonne) and Uruguay ($6,480 per tonne), while the price for Nicaragua ($4,952 per tonne) and Argentina ($5,340 per tonne) was amongst the lowest.

Source: IndexBox Platform

Product coverage:
• FCL 947 - Buffalo meat
• FCL 867 - Meat of cattle

This report provides an in-depth analysis of the beef market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.


Country coverage:
• USA

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Trade (exports and imports) in the U.S.
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles

Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

2.1
KEY FINDINGS
2.2
MARKET TRENDS
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
COUNTRIES WITH TOP YIELDS
5.4
TOP EXPORTING COUNTRIES
5.5
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION, PRODUCING ANIMALS AND YIELD
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2007–2020
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2007–2020
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

LIST OF TABLES
Table 1:
Key Findings In 2020
Table 2:
Market Volume, In Physical Terms, 2007–2020
Table 3:
Market Value, 2007–2020
Table 4:
Per Capita Consumption In 2007-2020
Table 5:
Imports, In Physical Terms, By Country, 2007–2020
Table 6:
Imports, In Value Terms, By Country, 2007–2020
Table 7:
Import Prices, By Country Of Origin, 2007–2020
Table 8:
Exports, In Physical Terms, By Country, 2007–2020
Table 9:
Exports, In Value Terms, By Country, 2007–2020
Table 10:
Export Prices, By Country Of Destination, 2007–2020
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2020
Figure 2:
Market Value, 2007–2020
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007-2020
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007-2020
Figure 5:
Trade Balance, In Physical Terms, 2007-2020
Figure 6:
Trade Balance, In Value Terms, 2007-2020
Figure 7:
Per Capita Consumption, 2007-2020
Figure 8:
Market Forecast To 2030
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Yield And Growth
Figure 15:
Exports And Growth
Figure 16:
Export Prices And Growth
Figure 17:
Market Size And Growth
Figure 18:
Per Capita Consumption
Figure 19:
Imports And Growth
Figure 20:
Import Prices
Figure 21:
Production, In Physical Terms, 2007–2020
Figure 22:
Production, In Value Terms, 2007–2020
Figure 23:
Producing Animals Slaughtered, 2007–2020
Figure 24:
Yield, 2007–2020
Figure 25:
Imports, In Physical Terms, 2007–2020
Figure 26:
Imports, In Value Terms, 2007–2020
Figure 27:
Imports, In Physical Terms, By Country, 2020
Figure 28:
Imports, In Physical Terms, By Country, 2007–2020
Figure 29:
Imports, In Value Terms, By Country, 2007–2020
Figure 30:
Import Prices, By Country Of Origin, 2007–2020
Figure 31:
Exports, In Physical Terms, 2007–2020
Figure 32:
Exports, In Value Terms, 2007–2020
Figure 33:
Exports, In Physical Terms, By Country, 2020
Figure 34:
Exports, In Physical Terms, By Country, 2007–2020
Figure 35:
Exports, In Value Terms, By Country, 2007–2020
Figure 36:
Export Prices, By Country Of Destination, 2007–2020

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