The final quarter of 2012 has seen the beef market characterized by slightly larger global supply, driven mainly by the natural recovery of herds in Brazil, Argentina and Australia. This, combined with a relatively lethargic world economy, has weighed on prices across the globe. Among the most important cattle exporting countries prices in local currencies have risen only in the US and New Zealand. These increases may not be high enough to offset the recent spike in costs, with the placements of cattle on feed in the US being cut.
