Browse Data and Analysis

The economy of People’s Republic of China (PRC) is facing headwinds for the remainder of 2023 that should continue into 2024 even though officials are exploring various stimulus efforts.

FAS/Tokyo forecasts a drop in 2024 cattle inventory on greater slaughtering of dairy cows, slower calf production, and no live cattle imports in 2023 and 2024.

In April 2023, the Ministry of Agriculture, Forestry, and Fisheries (MAFF) implemented a special measure under the Compound Feed Price Stabilization System to augment feed compensation payments to livestock, poultry, and swine producers.

Beef and pork production in 2024 is forecast to increase due to stronger producer returns from lower feed prices, as well as increased domestic and international demand.

After a major decrease in 2022, Ukraine’s cattle and swine population is expected to decline further in 2023. Although some war-related factors have already had their negative impact, the refugee crisis, disposable income drops, and a weakened economy are expected to depress livestock sector development further.

In 2023, Mexico’s beef production is forecast to slightly increase, but faces slower consumption growth on a year-to-year basis as food inflation soars. As herd numbers increase, overall cattle slaughter is expected to rise. Carcass weights are expected to marginally decrease in 2023 and are offset by larger slaughter numbers of slightly younger animals.

In 2021, the Chilean economy grew by 11.7 percent. Government support programs increased disposable income for many consumers, putting upward pressure on consumption of beef, pork, and chicken.

Japan has a well-developed food retail market that demands high-quality, high-value agricultural and food products. Despite reduced economic activity during the COVID-19 pandemic, trade data show that agricultural imports have remained resilient.