Signs beef prices could rise even further, says global meatpacking giant
A herdsman leads cattle through the auction ring to ensure every buyer is able to view it before placing their bid during an auction at France's biggest market for adult cattle "Marche au Cadran" in the Saint-Christophe-en-Brionnais, central-eastern France on February 19, 2025. France's biggest market for adult cattle, the "Au Cadran" market has seen an unprecedented rise in prices over the last few years, giving farmers some breathing space despite the crisis in the sector. (Photo by JEFF PACHOUD / AFP) (Photo by JEFF PACHOUD/AFP via Getty Images)
Cattle herds are declining in the US, Europe and China, according to giant Brazilian meatpacker Minerva SA, in a sign that beef prices could rise further.
The US is already struggling with the smallest herd in more than seven decades, and now China and Europe are starting to face a decrease in their cattle supplies, Fernando Galletti de Queiroz, Minerva's chief executive officer, said during an earnings call on Thursday.
