Global demand for beef 'trimmings' expected to increase

Global demand for cheaper cuts of beef is expected to increase in the year ahead as rampant inflation and slowing economic growth see consumers trade down, Rabobank says in a newly-released report. 

And New Zealand – as a large exporter of beef ‘trimmings’ (the cheaper meat cuts which remain after prime cuts are removed) – is expected to be among the best-positioned countries to benefit from this increased international demand, particularly from the US, the agribusiness bank says in its Q3 Global Beef Quarterly.

“Evidence of declining consumer confidence in the face of slowing economies and rising inflation is starting to build,” the Rabobank report says. 

“In general, beef markets are resilient to changes in economic conditions. However, we do see movement within supply channels and price points that tend to favour cheaper options such as mince/ground beef and quick-service restaurants over the more expensive cuts and consumption channels.”

Full media release, beef quarterly report and image of Genevieve Steven attached.

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