Cattle market prices continue to move at two speeds, with North American markets nearing record highs, while other markets remain modest, according to the latest Rabobank data analysis for Q2-2024.

Regional changes in production and prices are beginning to alter trade flows, with the US increasing imports, while imports in major Asian markets remain steady.

Rabobank's forecast for major beef-producing countries shows that global production in Q2 is slightly higher than in Q2 2023. However, estimated volumes for Q3 and Q4 2024 are expected to decrease year-on-year.

We continue to monitor animal disease risks, such as avian influenza, in various locations due to their potential impact on global beef markets.

Climate and greenhouse gas (GHG) emissions remain at the forefront of global sustainability discussions as reduction targets approach deadlines, and companies seek mitigation pathways.

So far, the market has driven most climate-related disclosures in the food and agribusiness (F&A) supply chains. We believe that companies, governments, and the industry will continue to prioritize GHG emissions accounting, although the specifics of some disclosure mandates will be contested or adjusted.

Increased regulatory actions regarding climate have led to tensions between governments, producers, and corporations (e.g., farmer protests in the EU, legislative uncertainty surrounding the SEC ruling in the US, and companies adjusting their ESG targets).

This is likely to result in more focus and pragmatism on core sustainability objectives rather than slowing climate action and introducing reputational risk. (Photo: Freepik)