Global beef production is expected to reach 59.6 million tons in 2023, according to a report released by the United States Department of Agriculture (USDA). The volume exceeds the forecast published in April (59.1 million tons) and the total produced last year (59.3 million tons).
Global consumption is now projected at 57.8 million tons, an increase of nearly 400,000 tons over the previous estimate. The total will also exceed consumption in 2022, which reached 57.5 million tons.
The United States, the largest global producer, should produce 12.4 million tons.
Brazil will remain second, with 10.65 million tons, an increase of 110,000 tons compared to the previous estimate and 300,000 tons over the total produced in 2022.
The estimate for Brazilian beef exports has also been revised up, from 3.01 million tons in April to 3.05 million tons now. Last year, shipments totaled 2.9 million tons.