Pork

The US Department of Agriculture forecasts that Chinese pork imports will fall by about 20% this year, while EU exports will be relieve by a 7% rise in demand from UK. Growth is also expected in markets such as Japan, South Korea and Australia.

USDA expects global pork production to rise 3% by 2022 resulting from an increase in China's hog stock. In fact, China's pig production is expected to reach 51 million tons this year, 7% higher from 2021. In the European Union, production is expected to contract by about 2% to about 23.2 million tons.

The expected trade contraction in China and the Philippines directly affects pork trade this year. World pork trade is expected to fall by 4% to around 11.7 million tons in 2022.

Beef

Thanks to growth in Australia, Brazil, India and Mexico markets, the USDA forecasts that world production will grow by about 1% by 2022. But production in Canada, the US and the European Union may fall by 3%.

In terms of trade, global beef trade is expected to grow by 3% from 2021 due to strong demand in East Asian markets. However, livestock shortages in New Zealand and some MERCOSUR countries (Paraguay, Uruguay and Argentina) will significantly limit exports from these countries throughout the year.

Chicken

Global chicken production is expected to remain stable this year and very similar to 2021. In addition, higher feed prices slowed chicken's over-speed expansion than expected. Brazil will significantly increase production and become a major country to meet international demand. Meanwhile, chicken production in China is expected to decline as pork production continues to recover.

World chicken trade is also expected to change compared to last year, expectation from the USDA is 13.4 million tons. Similar with production, Brazil is expected to bear the market share of Ukraine's exit. In 2022, chicken imports from Ukraine, Russia and Saudi Arabia will decline, while imports from countries such as the UK, Iraq, Cuba and Mexico are expected to grow modestly.