The latest Rabobank quarterly report predicts the United Kingdom (UK) will become a large importer of beef once the country splits with the European Union (EU).
The report predicts the UK will become the world’s fifth or sixth largest beef-importing country once non-tariff barriers and consumer acceptance are addressed.
Rabobank also states that COVID-19 will continue to play a role in the global beef market as some nations have the virus under control, and some are experiencing a second wave.
The Rabobank Seven-Nation, Cattle Price Index, saw “cattle prices around the world showing signs of recovery from May through July. Cattle prices (in USD) in most major exporting countries increased, while the U.S. saw cattle prices decline.”
