Beef outlook for 2020 is positive

Global Animal Protein Outlook 2021 shows that after a year of much uncertainty due to Covid-19, the demand for global animal protein is expected to rise next year.

South African specialist beef producer Beefmaster group chief executive Louw van Reenen said for local and global markets, despite the challenges, there were signs of hope that brought opportunity in 2021.

“After years of drought, farmers will need to replenish their stock, so we expect a long-term recovery to take place. With the prediction of a good 2021 rainy season, farmers will have the opportunity to rebuild their herds,” said Van Reenen.

He said farmers and producers were getting a better price for their product and this should continue into 2021 because of a change in the supply and demand of cattle.

The group said it had adopted a conservative outlook for 2021 and was budgeting for an economic contraction given that the pandemic had severely hit South Africa’s economic growth performance, with the gross domestic product (GDP) levels expected to remain below 2019 levels well into 2022.