For the Quarter Ending March 2026
Beef Prices in North America
- In United States, the Beef Price Index rose quarter-over-quarter in Q1 2026, driven by tighter domestic supplies.
- In March 2026, retail sales grew 4.0% year-over-year and CPI rose 3.3%, supporting a strong Beef Demand Outlook.
- The Beef Production Cost Trend increased in March 2026 as producer prices rose 4.0% year-over-year alongside surging feedstock.
- A 4.3% unemployment rate and a 91.8 consumer confidence index in March 2026 bolstered premium beef consumption.
- In March 2026, industrial production grew 0.7% year-over-year and the Manufacturing Index expanded, ensuring stable meat processing operations.
- Cattle on feed inventories tightened in March 2026, while domestic beef production declined throughout Q1 2026.
- U.S. beef imports surged in February 2026, while exports weakened due to reduced domestic exportable supplies.
- The Beef Price Forecast remained elevated in Q1 2026 as corn export demand spiked amid global energy shocks.
Why did the price of Beef change in March 2026 in North America?
- Farm-level cattle feedstock costs surged in March 2026 due to cyclical herd contraction and tightening.
- Domestic beef production declined in Q1 2026 due to a slower pace of steer slaughter.
- Packer demand for fed cattle strengthened significantly in Q1 2026 despite historically low marketing levels.
Beef Prices in APAC
- In China, the Beef Price Index fell quarter-over-quarter in Q1 2026, driven by persistently weak consumer demand.
- The Beef Demand Outlook remained weak in March 2026 as 1.7 percent retail sales growth constrained spending.
- The Beef Production Cost Trend increased in March 2026, aligning with a 0.5 percent producer price rise.
- The Beef Price Forecast declined in March 2026 because 5.4 percent unemployment reduced household disposable income.
- A mild 1.0 percent consumer price increase in March 2026 drove substitution toward cheaper protein alternatives.
- Despite a 5.7 percent industrial production rise and expanding manufacturing index in March 2026, beef consumption lagged.
- Premium food service demand weakened in February 2026 as the consumer confidence index dropped to 91.6.
- Live cattle and soybean feedstock prices strengthened in Q1 2026 while total domestic cattle inventories contracted.
- Total beef imports from Brazil and Australia surged in Q1 2026 despite intensified January 2026 tariffs.
Why did the price of Beef change in March 2026 in APAC?
- Consumer demand for premium beef weakened persistently across the food service sector in Q1 2026.
- Total beef import volumes from Brazil and Australia surged significantly during the Q1 2026 period.
- Price sensitivity drove consumer substitution toward cheaper protein alternatives throughout the entire Q1 2026 timeframe.
Beef Prices in Europe
- In Germany, the Beef Price Index rose quarter-over-quarter in Q1 2026, driven by persistent short supply.
- A 2.7% CPI increase in March 2026 squeezed household budgets, negatively impacting the Beef Demand Outlook.
- The Beef Production Cost Trend benefited from a -0.2% producer price decline in March 2026.
- An expanding Manufacturing Index in March 2026 supported premium beef consumption within the hospitality sector.
- Despite 0.0% industrial production in February 2026, 0.7% retail sales growth sustained grocery beef purchases.
- A 4.2% unemployment rate in February 2026 stabilized beef consumption, despite a -24.7 consumer confidence index in March 2026.
- The Beef Production Cost Trend faced upward pressure as wheat feed prices surged in February 2026.
- Cattle inventories tightened in January 2026, while regional beef imports from South America surged simultaneously.
- The Beef Price Forecast remained elevated as regional beef exports declined significantly in March 2026.
Why did the price of Beef change in March 2026 in Europe?
- Cattle slaughter volumes declined in January 2026, creating persistent short supply across the regional market.
- Robust retail beef demand in March 2026 outpaced the available supply of adult male bovines.
- European natural gas spot prices surged in March 2026, driving up operational costs for producers.
For the Quarter Ending December 2025
Beef Prices in North America
- In United States, the Beef Price Index rose quarter-over-quarter in Q4 2025, driven by increased production costs and robust consumer demand.
- Beef production costs increased, influenced by a 3.0% PPI rise year-over-year in November 2025.
- Input costs for beef production climbed, evidenced by a 2.7% CPI increase year-over-year in December 2025.
- Beef demand remained strong, supported by a 3.3% retail sales increase year-over-year in November 2025.
- Robust consumer spending reflected a 2.0% industrial production rise year-over-year in December 2025, boosting beef demand.
- A 4.4% unemployment rate in December 2025 bolstered consumer purchasing power, sustaining beef demand.
- The Beef Price Index reflected upward pressure, influenced by persistent cost increases and steady consumer spending in Q4 2025.
- Consumer confidence, at 89.1 in December 2025, declined from prior months, indicating moderate sentiment.
Why did the price of Beef change in December 2025 in North America?
- Rising production costs, indicated by a 3.0% PPI increase in November 2025, pressured beef prices upward.
- Robust consumer spending, with retail sales up 3.3% in November 2025, sustained strong beef demand.
- Inflationary pressures, with CPI rising 2.7% in December 2025, impacted production costs.
Beef Prices in APAC
- In China, the Beef Price Index fell quarter-over-quarter in Q4 2025, driven by subdued consumer demand.
- The Beef Price Forecast indicates continued downward pressure due to weak consumer spending in Q4 2025.
- Beef Production Cost Trend declined in December 2025, as producer prices fell by 1.9% year-over-year.
- Beef Demand Outlook weakened in Q4 2025, with retail sales growing only 0.9% year-over-year in December 2025.
- Consumer confidence cooled during Q4 2025, impacting discretionary spending on items like Beef.
- The Manufacturing Index expanded in December 2025, indicating overall economic growth in China.
- Industrial production increased by 5.2% year-over-year in December 2025, supporting economic activity.
- Low consumer price inflation of 0.8% year-over-year in December 2025 limited pricing power for Beef.
- The unemployment rate remained moderate at 5.1% in December 2025, providing some labor market stability.
Why did the price of Beef change in December 2025 in APAC?
- Producer prices declined by 1.9% year-over-year in December 2025, reducing production costs.
- Consumer spending was subdued, with retail sales growing only 0.9% year-over-year in December 2025.
- Consumer confidence cooled during Q4 2025, dampening overall demand for Beef products.
Beef Prices in Europe
- In Germany, the Beef Price Index fell quarter-over-quarter in Q4 2025, influenced by contracting consumer confidence in December 2025.
- Beef production costs declined as producer prices for industrial products fell 2.5% year-on-year in December 2025.
- Beef demand faced headwinds from a 6.2% unemployment rate in Germany during December 2025.
- Consumer confidence remained pessimistic at -17.5 index points in December 2025, dampening discretionary spending.
- As of q4 2025 ending the price of the Beef in the European market reached to 6788 USD/MT.
- The Manufacturing Index was contracting in December 2025, indicating a broader economic slowdown affecting demand.
- The Consumer Price Index rose 1.8% year-on-year in December 2025, eroding real consumer purchasing power.
- Industrial production showed modest growth of 0.8% year-on-year in October 2025, supporting overall economic health.
- The Beef Price Index experienced downward pressure in Q4 2025 due to cost reductions and subdued consumer demand.
Why did the price of Beef change in December 2025 in Europe?
- Consumer confidence at -17.5 in December 2025 reduced discretionary spending on premium food items.
- Producer prices for industrial products declined 2.5% year-on-year in December 2025, lowering input costs.
- The 6.2% unemployment rate in December 2025 constrained consumer purchasing power for beef products.
For the Quarter Ending September 2025
Beef Prices in North America
- In United States, the Beef Price Index rose quarter-over-quarter in Q3 2025, supported by strong retail sales.
- Beef production costs increased, influenced by a 2.6% rise in Producer Price Index in August 2025.
- The Beef demand outlook was mixed, with robust retail sales but declining consumer confidence in September 2025.
- Consumer Price Index increased 3.0% year-over-year in September 2025, eroding consumer purchasing power.
- A 4.3% unemployment rate in September 2025 bolstered consumer income, supporting overall Beef demand.
- Wholesale electricity prices were projected to increase in 2025, raising Beef processing costs.
- Manufacturing output expanded in Q3 2025, while inventories shrank, indicating some supply tightness.
- Industrial production showed a modest 0.1% year-over-year increase in September 2025, suggesting sluggish economic growth.
Why did the price of Beef change in September 2025 in North America?
- Rising production costs, indicated by a 2.6% Producer Price Index increase in August 2025, pressured Beef prices.
- Strong consumer retail sales, up 5.42% in September 2025, supported robust demand for Beef products.
- Declining consumer confidence in September 2025, coupled with 3.0% CPI, tempered discretionary spending.
Beef Prices in APAC
- In China, the Beef Price Index fell quarter-over-quarter in Q3 2025, driven by weak consumer demand and falling producer prices.
- The Beef Price Forecast suggests pressure from contracting manufacturing activity and low consumer confidence in Q3 2025.
- Beef Production Cost Trend was impacted by producer prices falling 2.3% year-over-year in September 2025, reducing input costs.
- The Beef Demand Outlook remained weak in Q3 2025, as consumer prices declined 0.3% year-over-year in September 2025.
- Overall domestic demand in China remained subdued during Q3 2025, affecting consumer spending on premium Beef.
- Consumer confidence, at 89.6 in September 2025, indicated pessimism, dampening discretionary Beef spending.
- Retail sales grew 3.0% year-over-year in September 2025, but the Manufacturing Index contracted, signaling economic slowdown.
- Industrial production expanded 6.5% year-over-year in September 2025, offering some counter-balance to bearish indicators.
- China's exports showed strong year-over-year growth in September 2025, contributing to a record trade surplus.
Why did the price of Beef change in September 2025 in APAC?
- Weak consumer demand, with CPI down 0.3% year-over-year in September 2025, pressured Beef prices.
- Falling producer prices, down 2.3% year-over-year in September 2025, lowered Beef production costs.
- Contracting manufacturing activity and low consumer confidence in Q3 2025 dampened overall Beef demand.
Beef Prices in Europe
- In Germany, the Beef Price Index remained stable quarter-over-quarter in Q3 2025, influenced by mixed economic signals.
- Beef production costs decreased, with the Producer Price Index falling 1.7% year-over-year in September 2025.
- Consumer purchasing power for beef was reduced by a 2.4% year-over-year CPI increase in September 2025.
- Industrial Production declined 1.0% year-over-year in September 2025, indicating weaker economic conditions impacting demand.
- The Manufacturing Index contracted in Q3 2025, suggesting overall economic weakness and reduced consumer confidence.
- Retail sales increased modestly by 0.2% year-over-year in September 2025, showing limited growth in consumer spending.
- Stabilizing consumer confidence in Q3 2025, with expected income increases, offered cautious support against price declines.
Why did the price of Beef change in September 2025 in Europe?
- Lower producer costs, evidenced by a 1.7% PPI decrease in September 2025, supported stable beef pricing.
- Reduced consumer purchasing power due to a 2.4% CPI increase in September 2025 dampened beef demand.
- Contracting Manufacturing Index in Q3 2025 and 1.0% industrial production decline weakened economic sentiment.
