New York -- Beef prices around the world will steady in the midterm, though a further significant price increase could trigger substitution with other meats, according to Rabobank's Q2 2011 Beef Quarterly Food & Agribusiness Research and Advisory (FAR) report. Additional highlights of the report, released today, include:
* Tight cattle supplies carrying higher prices globally
* Beef trade shaken by tsunami and earthquake in Japan
* US to become net beef exporter, as exports boom and imports tighten on weaker US dollar
* Softening demand in the EU and US a concern
* Macro policy tightening slowing demand growth in emerging markets
* Beef processing consolidation expected to ramp up
Furthermore, the report details:
Tight cattle supplies carrying prices higher globally
Finished cattle availability is still tight throughout the world, due to cattle herd rebuilding in many producing countries after years of cow liquidation and sustained unprofitability in grain-fed markets.
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