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Consumer habits are shifting as a result of the COVID-19 pandemic. Photo courtesy of Beef It’s What’s For Dinner.

A recent report from Rabobank, “Global Beef Quarterly Q4 2022: As the US Goes, So Goes the World,” shared that while the global beef market remains solid, growing economic and supply-side pressures may change that.

Global beef production for the upcoming first quarter of 2023 is expected to be similar to 2022 levels, but the market should keep an eye on the U.S., Rabobank cautioned. The country is headed toward a downward production cycle, which will impact prices and trade distribution in the coming years.

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