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Traders Assess Suspension of Brazilian Beef Exports to China Due to BSE
Over the weekend, the agriculture ministry reported that Brazil has suspended beef exports to China after confirming two cases of “atypical” bovine spongiform encephalopathy (BSE) in two domestic meat plants. BSE, also referred to as mad cow disease, is a fatal neurodegenerative disease of cattle that is transmitted through contaminated feed. The two cases recently confirmed in Brazil were “atypical” since the disease appeared “spontaneously and sporadically, unrelated to the ingestion of contaminated food”, according to the agriculture ministry.
It is not yet certain when Brazilian beef exports to China will resume. The ministry stated there was no risk to animal or human health.
BSE was first diagnosed in 1986 in the United Kingdom and has since been detected in other countries. The first known case of BSE in the United States occurred in 2003 and resulted in the loss of most of the United States’ beef exports in 2004.
Brazil was the world's largest beef exporter in 2020. The indefinite suspension of Brazilian beef exports to China could be supportive of U.S. beef exports if the ban is not resolved quickly...
Meatpacker JBS Takes Plunge Into Seafood Industry with $300 Million Huon Aquaculture Purchase
Brazil-based meatpacking giant JBS has agreed to purchase Australian salmon farmer Huon Aquaculture for AU$425 million (US$313 million).
Huon said JBS will acquire 100% of Huon for a cash consideration of $3.85 per share. The share price is a 61% premium over the closing price of $2.39, which was the last traded price before the company announced a strategic review on February 26.
The board at Huon Aquaculture unanimously recommended the move to sell to the world’s largest meat...
Pork Quarterly Q3 2021: Looking for Growth Amid Uncertainties
Great volatility in Chinese hog and pork prices is rippling through the global market. China’s slaughter rates were unexpectedly high in Q2, pushing pork production up 35.9% YOY in 1H, according to official data. The sudden supply increase resulted in a sharp price decline and negative results in both farming and trading in 1H, pointing to low pork imports into China in Q3. While we expect hog and pork prices to rebound in Q3, the estimated high frozen pork inventory will impose a lot of downward pressure on prices. We expect the slowdown of imports in the coming months will reduce full year imports from 2020’s record levels by 10% to 20%. This will lead to a redistribution of pork trade in the global market and could place downward pressure on pork prices in exporting regions.
Beef Quarterly Q2 2021: Record Prices, but Will They Last?
Many key beef production and consumption areas across the world are currently experiencing high or record prices for beef or cattle. We explore what is driving this and whether it will last. There are also several other issues affecting global beef markets at present.
The rollout of vaccines, the transition to robust economic growth, and the advance of the northern hemisphere summer see many areas experiencing lower Covid case numbers and higher economic activity. With restrictions being eased, foodservice sales are also...
Pork Quarterly Q2 2021: Production Setbacks Slow Growth, Boosting Prices and Returns
Global hog prices are sharply higher in most markets, as processors scramble to find adequate supplies. Higher disease losses in key growing regions, along with the lagged impact of industry liquidation during the pandemic, have limited available hog supplies. Rabobank expects a gradual recovery in the herd, yet higher raising costs and demand uncertainty are expected to moderate the pace of growth. Lower production expectations have left the market short of pork, just as demand is beginning to strengthen. The imbalance is driving pork prices sharply higher in many markets, which is slowly being passed through to consumers, contributing to overall inflationary trends.
China: Herd losses due to new ASF outbreaks and health challenges are slowing the recovery. While below earlier expectations, the sow herd is flat vs. 2020 and will expand through year-end as...
U.S. Top Chicken and Turkey Exporter to China
The U.S. was the top exporter of chicken and turkey to China in the first two months of the new year, according to newly released data from the General Administration of Customs China (GACC).
In January, the U.S. surpassed Brazil for the third consecutive month as the leader for broiler imports by China with a total of 56,214 tons, compared to 51,290 tons by...
Nathan’s Famous Continues International Expansion in North America and Beyond
Nathan’s Famous, Inc., announces the expansion of their products to Mexico City, Brazil, Canada, Indonesia, Malaysia and Singapore. The brand will also introduce its new virtual kitchen concept, Wings of New York, in all locations, with the exception of Brazil. Nathan’s Famous and Wings of New York will be available in a multitude of ways, including brick and mortar locations, ghost kitchens or retail, depending on the market.
“This is an exciting time for Nathan’s Famous and Wings of New York,” said James Walker, SVP, Restaurants. “We are embarking on a new chapter in our company as we continue to grow the brand’s presence all across the globe...
Beef Quarterly Q1 2021: New Drivers in Cattle Innovation
Increasing awareness of the need to improve environmental and social outcomes, together with a growing appetite from investors in animal protein, are creating new opportunities and growth in cattle innovation.
“We believe that research and innovation in the beef industry will continue to evolve but we are currently enabled by two main catalysts that will stimulate this further. Firstly, new investors in the space and secondly, the sustainability drive that not only seeks production improvements but also creates...
Pork Quarterly Q1 2021: Looking for Growth Amid Uncertainties
Rising disease pressures continue to challenge the global market. While African swine fever (ASF) continues to impact pork production in Asia and Europe, as well as global trade flows, Covid-19 keeps affecting the whole supply chain, from producers to consumers. However, demand is expected to rebound in most regions in 2021 due to economic recovery.
Global pork supply will grow in Asia and North and South America, but face more challenges in Europe. “While China continues to dominate global trade, China’s expected reduction in imports in 2021 will...
Changed Beef Consumption Habits Following COVID-19 Create Opportunities
The global Covid-19 pandemic and African swine fever (ASF) have changed beef consumption patterns through 2020. While total beef consumption has not seen too much change, we have seen distribution channels change, benefiting some at the expense of others. As the impacts of ASF are overcome and disruptions from Covid-19 subside, old distribution channels will recover.
“It is likely that many consumers will revert to their previous habits, but we do see opportunities for...
Rabobank Global Animal Protein Outlook 2021: Emerging From a World of Uncertainty
After a year full of uncertainties, global animal protein is expected to rise again, as it looks for opportunities.
In 2021, Rabobank anticipates production growth in most regions, with the biggest change taking place in Asia, where the impacts of African swine fever (ASF) are fading. Pork is expected to lead that growth – with a gradual recovery process, as ASF is still active. Poultry and aquaculture are also forecast to grow, followed by beef. Wild-catch seafood, however, is expected to decline.
Global animal protein trade continues to create areas of opportunity and risk, with China...
Rabobank: Pork Quarterly Q4 2020: Export Concentration a Potential Long-Term Risk
Global pork demand rebounded following Covid-19 disruption in most geographies, yet supply remains constrained in many Asian markets. This imbalance continues to support strong export demand from the rest of the world, resulting in sharply higher pork values.
Globally, processors’ ability to respond also remains constrained by labor availability, which limits packer capacity and efficiency. In Europe, new African swine fever (ASF) outbreaks add further limitations. “Hog producers face a challenging outlook, given rising feed costs, weaker economic trends, and slower export growth as China...
Soy Protein: An Introduction and Import Assessment
If you are like a growing number of shoppers across the globe, checking the ingredients label on the back of food items has become instinctual. One such ingredient, soybeans and further processed soybean powders (like flours, concentrates, and isolates), have garnered increased media attention partly associated with its use in a growing number of novel, plant-based products. Generally, goods containing soy are considered either “traditional soyfoods” which use whole soybeans in the creation of more obvious items like soy milks, tofu, and soy sauces or “formulated foods” which contain concentrated forms of soy protein in products including comminuted meats, protein bars, soups, cereals, frozen desserts, and meat analogues.
Like peas and lentils, the soybean (Glycine max) is a species of legume plant and has numerous invaluable production applications. Most widely grown in...
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