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The December World Agricultural Supply and Demand Estimates report (WASDE) showed this month’s 2024-25 U.S. corn outlook is for greater corn used for ethanol, larger exports and lower ending stocks.

EU beef production grew in the first half of 2024, driven by strong prices and resilient demand. However, the European Commission (EC) are forecasting a slight decline in beef production in 2024, down 0.5% year-on-year, as structural contraction in the breeding herds plays into slaughter cattle availability. This easing of production is expected to continue into 2025, with the EC forecasting down 1% year-on-year, as herds continue to contract. Drivers for this include increasing environmental regulation and an ageing farmer population, among others. This tightness in supply is expected to offer support to European cattle prices generally.

Opportunities and challenges for Argentine meat exports in 2025 The improvement in sales prices to China, the jump in shipments to the United States and opportunities in Israel, Chile and Mexico, generate good expectations for 2025. The exchange rate and export duties, in addition to Donald Trump's protectionist policy, are clouds on the horizon. Miguel Gorelik Argentine meat exports will end the year very close to the historical record of a hundred years ago (985 thousand tec in 1924). Beyond this comparison, which for various reasons may not be so valid, it is the highest level in many decades. They could reach 930-940 thousand tec and come from a last quarter (August-October) that averages the equivalent of just over a million tons per year. However, the export sector has been working under conditions of great stress, with very unsatisfactory margins. The combination of the price of the farm, exchange rate, and export duties