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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.
On April 13, 2023, the Ministry of Trade and Integration announced the second stage of 2023 meat and poultry quotas by HS code for historic suppliers (i.e., importers).
The 2022 U.S. Agricultural Export Yearbook provides a statistical summary of U.S. agricultural commodity exports to the world during the 2022 calendar year.