World Meat Prices. World Meat Production and Trade. 240 / World Meat: FAPRI 2002 Agricultural Outlook. Dollars per CWT 90.

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1 WORLD MEAT

2 240 / World Meat: FAPRI 2002 Agricultural Outlook World Meat Prices Dollars per CWT World Meat and Trade Million Metric Tons Thousand Metric Tons 8,000 7,000 6,000 5,000 4,000 3,000 2,000 1, Trade (tmt) Trade (tmt) Trade (tmt)

3 World Meat: FAPRI 2002 Agricultural Outlook / 241 World Meat Trade and U.S. Market Share Million Metric Tons 16 Percent U.S. Other Exporters U.S. Market Share EU Per Capita Meat Kilograms per Person

4 242 / World Meat: FAPRI 2002 Agricultural Outlook World and Veal trade increases by 54.4% over the baseline, reaching 4.16 mmt in Weak imports in Japan, Taiwan, and South Korea in the first half of the decade due to an economic slowdown, depreciating currency, and the BSE- FMD scare are offset by larger imports from Russia and Mexico, reaching 1.43 mmt in Recovering beef demand and less surplus supply from exporters facing both SPS challenges and a herd rebuilding cycle push the world beef price up by 2.71% annually over the next three years, with a peak of $78.47 per cwt in The EU and Argentina lose market shares of 7 and 5 percentage points because of SPS challenges. Timely herd rebuilding allows Australia, Canada, and New Zealand to gain market shares of 8, 4, and 1 percentage points. Productivity improvements and depreciating currency boost Brazil s market share by 12 percentage points. Argentina s 2001 export level is less than one-half of its level in 2000 owing to an FMD outbreak. A significant currency devaluation improves the country s competitiveness, allowing net exports to approach their peak levels of the late 1990s, reaching 438 tmt in Canada s exports reach 504 tmt in 2011 with expanded slaughter capacity. After cutting half its annual live cattle export to the United States, Canada again exports more live cattle (1.17 million head in 2011) to meet supply deficits in the United States. Tariff structure escalation, common in such Asian countries as Indonesia, Philippines, and Malaysia, favors importation of live cattle. Australia dominates this market; its live cattle exports increase by 57.78%, reaching 1.47 million head in BSE and FMD support schemes, including Purchase for Destruction and OTMS, removed 2 million head from the food chain in As a result, beef production declined by 5.18% during that year. EU beef production dropped by 8.78% in the last two years successively. With more and heavier animals, withheld last year, now entering the market, production increases by 3.71% in Termination of OTMS in 2003 gives production another boost of 3.03%. declines the remainder of the decade with fewer dairy cattle. Similar to the recovery pattern during the 1996 BSE outbreak, per capita beef consumption is expected to recover in three years, increasing by 11.45% between 2001 and After 2004, consumption reverts to its long-term downward trend. Intervention stocks rose to 300 tmt in 2001 to support falling beef prices. Stocks peak at 500 tmt in 2003, as more support is necessary with the termination of the OTMS. Beginning in 2005 when balance is regained in the sector, stocks drop to zero. exports dropped by 36.45% in the last two years successively. Exports are expected to remain slightly below the GATT limit of 822 tmt in the next two years as the EU continues to regain access to markets that banned their beef exports during the BSE and FMD outbreaks. South Korea s quota, which was terminated in 2001, was never binding, with a fill rate of only 81%. After a 17.86% decline in 2001, imports recover and grow by 4.64% over the rest of the period, reaching 361 tmt in 2011.

5 World Meat: FAPRI 2002 Agricultural Outlook / 243 and Veal Trade Net Exporters Argentina Australia Brazil Canada China - Mainland European Union * Hungary New Zealand Poland Slovenia Thailand Ukraine United States Net Importers Bulgaria China - Hong Kong Czech Republic Estonia Indonesia Japan Latvia Lithuania Mexico Other Eastern Europe Other Former Soviet Union Philippines Romania Russia Slovakia South Korea Taiwan Rest of World Net Imports Nebraska Direct Fed Steer Price ,341 1,370 1,421 1,478 1,484 1,539 1,526 1,478 1,450 1,433 1, ,693 2,906 3,218 3,484 3,726 3,990 4,123 4,171 4,233 4,171 4, ,031 1,059 1,082 1,096 1, ,693 2,905 3,218 3,484 3,726 3,990 4,123 4,171 4,232 4,171 4,158 (U.S. Dollars per Metric Ton) 1,597 1,641 1,684 1,730 1,681 1,613 1,545 1,506 1,481 1,507 1,543 * Includes meat and meat equivalent of live cattle trade.

6 244 / World Meat: FAPRI 2002 Agricultural Outlook Major Importing Countries Thousand Metric Tons 3,500 3,000 2,500 2,000 1,500 1, Japan Russia Mexico South Korea Taiwan Philippines Export Market Share Percent Australia Brazil New Zealand EU Argentina Canada China U.S. 1995/ / /2011

7 World Meat: FAPRI 2002 Agricultural Outlook / 245 EU Supply and Utilization Million Metric Tons Thousand Metric Tons 1,200 1, Export Ending Stock Live Cattle and Exports Thousand Head 1,600 1,400 1,200 1, Thousand Metric Tons 1,800 1,600 1,400 1,200 1, Austraila-Live Canada-Live Austraila Argentina New Zealand

8 246 / World Meat: FAPRI 2002 Agricultural Outlook World The U.S. pork price increased for the second consecutive year, by 2.48%, reaching $45.81 per cwt in The resulting buildup in the market hog inventory pushes the price down to $44.62 in The price cycles for the rest of the decade, with the next peak coming in 2006 at $ After declining for the last two years, pork trade increases consistently over the next decade at a rate of 3.98% annually, reaching 3.64 mmt in A weak economy and depreciating currency reduced pork imports in Japan, Taiwan, and South Korea in 2001 by 7.54%, 44.44%, and 30.64%. Imports in all three countries recover thereafter, reaching a total of 1.49 mmt in Japan remains the world s largest pork importer. However, border protection and deficiency-type support payments mitigate a decline in production to only 0.48%, while imports grow by only 1.85% compared to 6.58% in the 1990s. An FMD outbreak closed South Korea s access to Japan s pork import market. South Korea s exports remain slightly more than half their peak level in , while imports grow 3.24% annually after the 30.64% drop in Russian pork imports rise until 2003, then decline slightly as production recovers in the middle of the baseline. Economic and population growth drive Mexico s imports up by 8.40% annually, reaching 423 tmt in Lower tariffs and permission for foreign firms to engage in distribution under WTO accession will open market opportunities in coastal cities. As a result, slight differential growth in production and consumption expands China s imports to 333 tmt. Taiwan s pork sector was devastated by the 1997 FMD outbreak, which prompted Japan to ban its exports. Between 1996 and 1999, production declined by 35%. With WTO accession, production is expected to decline by 0.16%, while imports expand by 10.12%. The EU s export market share drops by 7 percentage points, while Canada, the U.S., and Brazil gain by 3, 1, and 7 percentage points. Brazil s competitiveness improves with new investments to improve infrastructure, raise productivity, and improve currency depreciation. production in Canada grows by 2.96% as investments in hog production and processing are expanded, allowing Canada s pork exports to reach 966 tmt in Live hog exports to the U.S. also grow by 2.35%, reaching 5.54 million head in BSE and FMD outbreaks caused the EU s pork price to rise by 18% and exports to decline by 25.09% in More pork was retained for domestic use, third countries banned EU exports, and Japan activated its safeguard provision. exports increase by 19.08% over the next two years. The zero-for-zero agreement with the EU benefits Poland and Hungary, especially in outer years as they continue to improve to meet the EU s veterinary standards. Their net exports grow by 12.08% and 3.47% annually, respectively.

9 World Meat: FAPRI 2002 Agricultural Outlook / 247 Trade Net Exporters Australia Brazil Canada European Union Hungary Poland Other Former Soviet Union Thailand United States Net Imports Argentina Bulgaria China - Hong Kong China - Mainland Czech Republic Estonia Indonesia Japan Latvia Lithuania Mexico New Zealand Other Eastern Europe Philippines Romania Russia Slovakia Slovenia South Korea Taiwan Ukraine Rest of World Net Imports Barrow and Gilt Price, National Base 51-52% Lean Equivalent ,230 1,329 1,298 1,295 1,229 1,231 1,270 1,340 1,385 1, ,258 2,551 2,735 2,831 2,949 3,038 3,139 3,273 3,414 3,537 3, ,001 1,019 1,041 1,059 1,099 1,140 1,181 1,201 1, ,258 2,551 2,735 2,831 2,949 3,038 3,139 3,273 3,414 3,537 3,644 (U.S. Dollars per Metric Ton) 1, ,

10 248 / World Meat: FAPRI 2002 Agricultural Outlook Major Importing Countries Thousand Metric Tons 3,500 3,000 2,500 2,000 1,500 1, Japan Russia Hong Kong Mexico Philippines Taiwan Export Market Share Percent EU Canada U.S. Poland Brazil Hungary 1995/ / /2011

11 World Meat: FAPRI 2002 Agricultural Outlook / 249 Canadian and Swine Exports Thousand Metric Tons 1,200 Thousand Head 6,000 1,000 5, , , , , Swine China Supply and Utilization Million Metric Tons 40 Thousand Metric Tons Net Imports -300

12 250 / World Meat: FAPRI 2002 Agricultural Outlook World In the U.S. and Mexico, broiler meat overtakes beef as the primary meat consumed, with consumption increasing over the baseline, reaching and kg per person respectively in The broiler sector benefited from SPS challenges for other meats. trade increases by 2.24 tmt in the next decade, or 4.48% annually, reaching 7.22 mmt in Availability of improved technologies and production inputs raises world broiler production by 10.3 mmt, or 2.36% annually, culminating in a level of 54 mmt in As a result, the impact on price of the long-run shift toward poultry consumption is alleviated. SPS challenges for the other meats result in a high broiler price of $59.15 per cwt at the start of the decade. Strong demand continues to strengthen prices at a rate of 0.90% annually, with the price in 2011 at $61.91, approaching the decade s peak in Japanese imports recover by 2.30% annually, reaching 836 tmt in Avian flu dampens consumption growth in Hong Kong. Economic and population growth spurs imports in South Korea, Indonesia, and Philippines to increase from 94 to 259 tmt over the baseline. Mexican imports increase by 4.52% with the lifting of a non-binding NAFTA TRQ. Russian imports continue to grow, reaching 1.28 mmt in High costs in Saudi Arabia fuel imports to increase by 5.8%, reaching 600 tmt. exports from the U.S. and EU increase by 3.97% and 1.12% respectively over the baseline. But with faster growth in other exporting countries, both lose export market share, 4 and 6 percentage points respectively, in the first half of the decade. Brazil gains 10 percentage points of market share. Driven by its depreciating currency and new production investments in the grain-rich Center-West region, Brazil expands its production and exports by 4.06% and 9.78%, respectively. Productivity improvements, product innovation, and a shift to higher-valued products enable Thailand to maintain its market share despite the presence of low-cost competitors and an appreciating currency. Under WTO accession, the tariff for poultry is the lowest among all meat products in China. Complementary demand for broiler parts and lower tariff rates boost chicken imports by 8.01%, culminating in 1.17 mmt of imports in Taiwan s chicken import quota of 12 tmt was maintained with a heavy penalty on excess imports. With WTO accession, Taiwan is expected to remove its quota and replace it with a tariff. As a result, imports increase by 23.89%, reaching 108 tmt in 2011.

13 World Meat: FAPRI 2002 Agricultural Outlook / 251 Meat Trade Net Exporters Australia Brazil European Union Hungary Slovenia Thailand United States Net Importers Argentina Bulgaria Canada China - Mainland China - Hong Kong Czech Republic Estonia Indonesia Japan Latvia Lithuania Mexico New Zealand Other Eastern Europe Other Former Soviet Union Philippines Poland Romania Russia Saudi Arabia Slovakia South Korea Taiwan Ukraine Rest of World Net Imports U.S. 12-City Price ,249 1,300 1,524 1,683 1,842 1,951 2,045 2,186 2,297 2,393 2, ,774 2,869 2,919 3,029 3,098 3,226 3,371 3,423 3,489 3,583 3,731 4,984 5,165 5,435 5,683 5,929 6,176 6,419 6,614 6,797 6,991 7, ,041 1,106 1, ,073 1,070 1,082 1,109 1,113 1,134 1,153 1,168 1,192 1,233 1, ,577 1,589 1,687 1,698 1,801 1,814 1,826 1,836 1,847 1,856 1,867 4,984 5,165 5,435 5,683 5,929 6,176 6,419 6,614 6,797 6,991 7,220 (U.S. Dollars per Metric Ton) 1,304 1,306 1,315 1,323 1,325 1,320 1,317 1,330 1,339 1,353 1,365

14 252 / World Meat: FAPRI 2002 Agricultural Outlook Major Importing Countries Thousand Metric Tons 5,000 4,500 4,000 3,500 3,000 2,500 2,000 1,500 1, Japan China Russia Hong Kong Saudi Arabia Mexico Export Market Share Percent U.S. Brazil EU Thailand 1995/ / /2011

15 World Meat: FAPRI 2002 Agricultural Outlook / 253 Per Capita of Selected Countries Kilograms per Person Australia China EU Hong Kong Mexico Korea Taiwan U.S. 1995/ / /2010 Brazilian Supply and Utilization Million Metric Tons Thousand Metric Tons 3,000 2,500 2,000 1,500 1,

16 254 / World Meat: FAPRI 2002 Agricultural Outlook U.S. Meat Supply and Utilization Live Cattle Trade Export Import Live Hog Trade Export Import Imports Exports Imports Exports Exports Turkey Beg Stocks Exports Producer Prices Nebraska Direct Fed Steers Barrow and Gilt Price, National Base 51-52% Lean Equivalent 12-City Wholesale Retail Prices Turkey (Million Head) (Thousand Head) ,532 2,574 2,616 2,661 2,653 2,661 2,659 2,676 2,699 2,754 2, ,295 5,209 5,213 5,196 5,208 5,315 5,359 5,409 5,459 5,499 5,533 11,879 11,754 11,688 11,680 11,948 12,306 12,726 13,046 13,334 13,273 13,265 1,443 1,471 1,518 1,527 1,487 1,437 1,406 1,396 1,390 1,413 1,452 13,561 13,460 13,431 13,432 13,660 13,970 14,360 14,671 14,955 14,919 14,950 12,322 12,261 12,184 12,187 12,295 12,456 12,695 12,918 13,094 13,205 13,269 1, ,022 1,020 1,138 1,286 1,436 1,523 1,629 1,480 1, ,561 13,460 13,431 13,432 13,660 13,970 14,360 14,671 14,955 14,919 14,950 8,698 8,793 9,044 9,115 9,179 9,228 9,445 9,714 9,916 9,997 10, ,355 9,456 9,712 9,811 9,896 9,971 10,207 10,494 10,713 10,810 10,846 8,432 8,575 8,778 8,846 8,902 8,950 9,145 9,381 9,561 9,620 9, ,355 9,456 9,712 9,811 9,896 9,971 10,207 10,494 10,713 10,810 10,846 13,961 14,273 14,548 14,843 15,148 15,474 15,857 16,184 16,551 16,945 17,371 14,328 14,594 14,858 15,164 15,479 15,819 16,216 16,560 16,940 17,348 17,790 11,231 11,415 11,619 11,803 12,037 12,233 12,470 12,748 13,049 13,347 13,624 2,779 2,873 2,923 3,033 3,102 3,230 3,374 3,426 3,492 3,586 3, ,328 14,594 14,858 15,164 15,479 15,819 16,216 16,560 16,940 17,348 17,790 2,473 2,513 2,545 2,588 2,633 2,670 2,700 2,726 2,757 2,790 2, ,583 2,627 2,660 2,705 2,751 2,789 2,821 2,849 2,881 2,915 2,948 2,245 2,288 2,309 2,341 2,380 2,406 2,425 2,447 2,473 2,495 2, ,583 2,627 2,660 2,705 2,751 2,789 2,821 2,849 2,881 2,915 2,948 (U.S. Dollars per Metric Ton) 1,597 1,641 1,684 1,730 1,681 1,613 1,545 1,506 1,481 1,507 1,543 1, , ,304 1,306 1,315 1,323 1,325 1,320 1,317 1,330 1,339 1,353 1,365 (U.S. Dollars per Kilogram)

17 World Meat: FAPRI 2002 Agricultural Outlook / 255 Argentine Meat Supply and Utilization Producer Prices - Retail (Million Head) ,860 2,902 2,946 3,010 3,045 3,096 3,152 3,221 3,280 3,356 3,416 2,886 2,924 2,968 3,032 3,067 3,118 3,174 3,243 3,302 3,378 3,438 2,730 2,709 2,665 2,680 2,723 2,773 2,826 2,873 2,918 2,949 2, ,886 2,924 2,968 3,032 3,067 3,118 3,174 3,243 3,302 3,378 3, ,020 1,046 1,074 1, (Argentine Peso per Kilogram)

18 256 / World Meat: FAPRI 2002 Agricultural Outlook Australian Meat Supply and Utilization Sheep Inventories (Beg.) Live Cattle Trade Export Lamb and Mutton Producer Prices Saleyard Saleyard Farm Lamb Saleyard Retail Prices Sheep (Million Head) (Thousand Head) ,038 1,074 1,078 1,153 1,188 1,194 1,254 1,350 1,475 2,000 2,038 2,099 2,165 2,188 2,255 2,260 2,233 2,221 2,208 2,179 2,013 2,057 2,118 2,184 2,208 2,275 2,280 2,253 2,241 2,229 2, ,341 1,370 1,421 1,478 1,484 1,539 1,526 1,478 1,450 1,433 1, ,013 2,057 2,118 2,184 2,208 2,275 2,280 2,253 2,241 2,229 2, (Australian Cents per Kilogram) ,077 1,049 1,

19 World Meat: FAPRI 2002 Agricultural Outlook / 257 Brazilian Meat Supply and Utilization Exports Producer Prices - Wholesale (Million Head) ,750 6,883 7,089 7,220 7,520 7,767 7,966 8,134 8,278 8,417 8,545 6,759 6,892 7,098 7,229 7,529 7,775 7,975 8,143 8,287 8,425 8,554 6,190 6,373 6,515 6,613 6,768 6,942 7,125 7,296 7,458 7,578 7, ,759 6,892 7,098 7,229 7,529 7,775 7,975 8,143 8,287 8,425 8,554 2,117 2,235 2,337 2,425 2,488 2,561 2,630 2,707 2,786 2,857 2,929 2,119 2,245 2,347 2,435 2,498 2,571 2,640 2,717 2,796 2,867 2,939 1,870 1,951 2,006 2,058 2,108 2,151 2,196 2,246 2,300 2,369 2, ,119 2,245 2,347 2,435 2,498 2,571 2,640 2,717 2,796 2,867 2,939 6,580 6,693 7,062 7,370 7,641 7,884 8,119 8,402 8,680 8,965 9,243 6,750 6,889 7,254 7,560 7,831 8,073 8,308 8,590 8,868 9,153 9,430 5,305 5,397 5,539 5,688 5,800 5,933 6,074 6,216 6,383 6,573 6,779 1,249 1,300 1,524 1,683 1,842 1,951 2,045 2,186 2,297 2,393 2, ,750 6,889 7,254 7,560 7,831 8,073 8,308 8,590 8,868 9,153 9,430 (Reais per Kilogram)

20 258 / World Meat: FAPRI 2002 Agricultural Outlook Bulgarian Meat Supply and Utilization and Veal Producer Prices and Veal (Million Head) (Leva per Kilogram)

21 World Meat: FAPRI 2002 Agricultural Outlook / 259 Canadian Meat Supply and Utilization Live Cattle Trade Export Import Live Hog Trade Export Import and Veal Prices and Veal - Wholesale (Million Head) (Thousand Head) 1, ,000 1,005 1,017 1,052 1,074 1,098 1,122 1,144 1, ,300 5,214 5,218 5,201 5,212 5,320 5,364 5,414 5,463 5,504 5, ,225 1,232 1,260 1,313 1,362 1,430 1,487 1,544 1,587 1,623 1,644 1,251 1,257 1,285 1,338 1,387 1,455 1,512 1,569 1,612 1,648 1, ,003 1,030 1,055 1,076 1,093 1,108 1,124 1, ,251 1,257 1,285 1,338 1,387 1,455 1,512 1,569 1,612 1,648 1,669 1,720 1,762 1,783 1,837 1,900 1,987 2,041 2,082 2,106 2,163 2,254 1,753 1,797 1,818 1,872 1,935 2,022 2,076 2,117 2,141 2,198 2,289 1,083 1,113 1,171 1,178 1,186 1,191 1,224 1,256 1,289 1,291 1, ,753 1,797 1,818 1,872 1,935 2,022 2,076 2,117 2,141 2,198 2, ,013 1, ,005 1,014 1,035 1, ,003 1,012 1,035 1, ,005 1,014 1,035 1,058 (Canadian Dollars per Cwt)

22 260 / World Meat: FAPRI 2002 Agricultural Outlook China - Mainland Meat and Egg Supply and Utilization Sheep Inventories (Beg.) Imports Exports Imports Exports Imports Exports Net Trade Lamb and Mutton Imports Exports (Million Head) ,600 5,847 6,103 6,374 6,650 6,963 7,276 7,613 8,000 8,432 8, ,609 5,859 6,118 6,394 6,679 7,006 7,341 7,706 8,125 8,582 9,075 5,559 5,819 6,071 6,348 6,642 6,979 7,322 7,693 8,115 8,574 9, ,609 5,859 6,118 6,394 6,679 7,006 7,341 7,706 8,125 8,582 9,075 29,190 29,880 30,550 31,189 31,897 32,696 33,512 34,309 35,088 35,838 36, ,310 30,067 30,756 31,440 32,160 32,971 33,803 34,616 35,404 36,163 36,890 29,200 29,959 30,636 31,316 32,040 32,854 33,690 34,506 35,297 36,057 36, ,310 30,067 30,756 31,440 32,160 32,971 33,803 34,616 35,404 36,163 36,890 6,573 6,706 6,831 6,943 7,084 7,262 7,424 7,573 7,731 7,887 8, ,039 1,052 1,117 1,184 1,268 1,377 1,489 1,580 1,645 1,713 7,523 7,745 7,883 8,060 8,268 8,530 8,800 9,062 9,311 9,532 9,742 7,003 7,220 7,353 7,529 7,748 8,023 8,308 8,584 8,841 9,069 9, ,523 7,745 7,883 8,060 8,268 8,530 8,800 9,062 9,311 9,532 9, ,041-1,106-1,172 1,619 1,688 1,770 1,853 1,931 2,006 2,071 2,129 2,186 2,239 2, ,619 1,691 1,773 1,856 1,934 2,009 2,074 2,132 2,189 2,242 2,291 1,619 1,685 1,768 1,852 1,929 2,004 2,068 2,125 2,181 2,234 2, ,619 1,691 1,773 1,856 1,934 2,009 2,074 2,132 2,189 2,242 2,291

23 World Meat: FAPRI 2002 Agricultural Outlook / 261 China - Mainland Meat and Egg Supply and Utilization (continued) Eggs Imports Exports Producer Prices Sheep Egg Retail Prices Sheep Eggs 11,925 11,940 12,105 12,336 12,549 12,786 12,974 13,137 13,316 13,500 13, ,925 11,941 12,106 12,337 12,550 12,787 12,975 13,139 13,318 13,502 13,673 11,874 11,895 12,053 12,283 12,499 12,740 12,933 13,102 13,285 13,470 13, ,926 11,941 12,106 12,337 12,550 12,787 12,975 13,139 13,318 13,502 13,673 (Yuan per Kilogram) Data source: beef, cattle, and hogs from PS&D; pork, broiler, poultry, lamb, sheep and eggs from FAPRI adjusted data.

24 262 / World Meat: FAPRI 2002 Agricultural Outlook China - Hong Kong Meat Supply and Utilization Live Animal Trade Cattle Import Swine Import and Veal Imports Exports Imports Exports Imports Exports Retail Price (Thousand Head) ,928 1,928 1,928 1,928 1,928 1,928 1,928 1,928 1,928 1,928 1, (Hong Kong Dollars per Kilogram)

25 World Meat: FAPRI 2002 Agricultural Outlook / 263 Czech Republic Meat Supply and Utilization and Veal Stock Change Producer Prices (Million Head) (Koruny per 100 Kilogram) 6,642 7,153 7,150 7,172 7,097 6,479 5,958 5,632 5,404 5,673 5,959 4,319 3,643 3,657 3,684 3,819 3,808 3,839 3,901 3,956 4,014 4,019 3,271 3,151 3,019 2,891 3,054 2,990 2,986 3,041 3,071 3,180 3,241

26 264 / World Meat: FAPRI 2002 Agricultural Outlook Estonian Meat Supply and Utilization and Veal Stock Change Stock Change Stock Change Farm Prices and Veal (Million Head) (Krooni per Kilogram)

27 World Meat: FAPRI 2002 Agricultural Outlook / 265 European Union Meat Supply and Utilization Sheep Inventories (Beg.) and Veal Imports Exports (Meat) Exports (Meat Equivalent) Imports Exports Imports Exports Lamb and Mutton Imports Exports Producer Prices Sheep (Million Head) ,011 7,271 7,492 7,438 7,397 7,377 7,322 7,281 7,254 7,231 7, ,413 7,972 8,318 8,340 8,029 7,786 7,733 7,693 7,667 7,643 7,616 6,543 6,827 7,099 7,340 7,258 7,014 6,961 6,921 6,895 6,870 6, ,413 7,972 8,318 8,340 8,029 7,786 7,733 7,693 7,667 7,643 7,616 17,652 17,804 17,964 18,009 18,060 18,121 18,196 18,294 18,414 18,533 18, ,045 18,197 18,362 18,407 18,459 18,520 18,595 18,693 18,812 18,931 19,032 16,712 16,569 16,635 16,709 16,765 16,892 16,965 17,024 17,074 17,148 17,223 1,000 1,306 1,405 1,374 1,370 1,305 1,307 1,346 1,415 1,461 1, ,045 18,197 18,362 18,407 18,459 18,520 18,595 18,693 18,812 18,931 19,032 6,799 6,815 6,923 6,988 7,065 7,161 7,226 7,292 7,360 7,426 7, ,176 7,193 7,301 7,368 7,445 7,542 7,607 7,674 7,742 7,808 7,866 6,249 6,262 6,363 6,432 6,500 6,591 6,648 6,705 6,764 6,820 6, ,176 7,193 7,301 7,368 7,445 7,542 7,607 7,674 7,742 7,808 7,866 1,032 1,051 1,058 1,071 1,083 1,097 1,112 1,124 1,136 1,148 1, ,356 1,378 1,390 1,408 1,423 1,442 1,461 1,477 1,492 1,505 1,519 1,330 1,352 1,364 1,382 1,397 1,416 1,435 1,451 1,466 1,479 1, ,356 1,378 1,390 1,408 1,423 1,442 1,461 1,477 1,492 1,505 1,519 (Euro per 100 Kilograms) * Meat equivalent is the carcass weight equivalent of live cattle trade. Producer prices are projections of the MLC reference price.

28 266 / World Meat: FAPRI 2002 Agricultural Outlook Hungarian Meat Supply and Utilization and Veal Farm Price (Million Head) (Forint per 100 Kilogram) 48,117 48,998 47,622 45,868 44,453 41,059 37,683 35,953 34,728 36,163 37,692 52,414 48,469 47,868 47,071 47,324 47,228 47,083 47,441 47,749 48,076 48,105 30,875 27,315 25,971 24,435 24,798 24,445 24,133 24,416 24,564 25,110 25,413

29 World Meat: FAPRI 2002 Agricultural Outlook / 267 Indonesian Meat Supply and Utilization Sheep Inventories (Beg.) Live Cattle Import and Veal Stock Change Stock Change Lamb and Mutton Stock Change Retail Price Lamb and Mutton (Million Head) (Thousand Head) ,006 1,030 1,059 1,090 1,123 1, ,006 1,030 1,059 1,090 1,123 1, ,002 1,031 1,061 1,090 1,117 1,145 1,174 1, ,006 1,030 1,059 1,090 1,123 1, (Rupiah per Kilogram) 30,710 31,946 31,781 34,137 34,301 34,126 33,690 33,827 34,239 35,868 37,795 15,170 13,789 13,744 15,115 15,742 16,605 17,356 18,272 19,198 19,940 20,627 12,567 12,750 12,374 13,115 13,682 14,239 14,742 15,447 16,109 16,841 17,550 17,527 17,437 17,297 18,297 18,635 19,033 19,165 19,455 19,652 19,932 20,132

30 268 / World Meat: FAPRI 2002 Agricultural Outlook Japanese Meat Supply and Utilization Wagyu Cows (Beg.) Dairy Cows (Beg.) and Veal Wagyu Dairy Imports Wagyu Dairy Imported Wagyu Dairy Imported Imports Imports Exports Producer Prices Wagyu - Farm Dairy - Farm - Wholesale - Wholesale Retail Prices Wagyu Dairy Imported (Million Head) ,031 1,059 1,082 1,096 1,104 1,618 1,588 1,582 1,585 1,609 1,639 1,667 1,690 1,710 1,721 1,728 1,450 1,421 1,416 1,420 1,442 1,470 1,496 1,519 1,538 1,549 1, ,029 1,057 1,081 1,095 1, ,618 1,588 1,582 1,586 1,609 1,639 1,667 1,690 1,710 1,722 1,729 1,250 1,248 1,228 1,221 1,216 1,217 1,214 1,207 1,198 1,198 1, ,001 1,019 1,041 1,059 1,099 1,140 1,181 1,201 1,210 2,290 2,298 2,333 2,345 2,361 2,382 2,418 2,453 2,486 2,505 2,521 2,185 2,193 2,228 2,240 2,256 2,277 2,312 2,346 2,379 2,398 2, ,290 2,298 2,333 2,345 2,361 2,382 2,418 2,453 2,486 2,505 2,521 1,080 1,084 1,072 1,069 1,066 1,063 1,059 1,057 1,056 1,058 1, ,862 1,860 1,865 1,879 1,894 1,910 1,925 1,939 1,954 1,971 1,988 1,766 1,766 1,770 1,785 1,800 1,816 1,830 1,844 1,859 1,876 1, ,862 1,860 1,865 1,879 1,894 1,910 1,925 1,939 1,954 1,971 1,988 (Yen per Kilogram) 1,786 1,732 1,705 1,711 1,730 1,775 1,819 1,862 1,885 1,911 1, ,007 1,027 1,046 1,065 1,083 1,105 1, (Yen per 100 gram)

31 World Meat: FAPRI 2002 Agricultural Outlook / 269 Latvian Meat Supply and Utilization and Veal Stock Change Stock Change Stock Change Farm Prices and Veal (Thousand Head) (Lats per Kilogram)

32 270 / World Meat: FAPRI 2002 Agricultural Outlook Lithuanian Meat Supply and Utilization and Veal Stock Change Stock Change Farm Prices and Veal (Thousand Head) (Litai per Kilogram)

33 World Meat: FAPRI 2002 Agricultural Outlook / 271 Mexican Meat Supply and Utilization Live Cattle Trade Export Import Live Hog Import and Veal Wholesale Prices and Veal (Million Head) (Thousand Head) 1,280 1,312 1,352 1,392 1,372 1,345 1,320 1,312 1,312 1,344 1, ,925 1,887 1,776 1,756 1,773 1,797 1,917 2,057 2,154 2,227 2,234 1,925 1,887 1,776 1,756 1,773 1,797 1,917 2,057 2,154 2,227 2,234 2,347 2,360 2,369 2,401 2,467 2,539 2,598 2,653 2,701 2,738 2, ,925 1,887 1,776 1,756 1,773 1,797 1,917 2,057 2,154 2,227 2,234 1,065 1,092 1,115 1,137 1,166 1,207 1,245 1,271 1,285 1,305 1,344 1,065 1,092 1,115 1,137 1,166 1,207 1,245 1,271 1,285 1,305 1,344 1,305 1,366 1,446 1,495 1,539 1,583 1,639 1,704 1,770 1,819 1, ,065 1,092 1,115 1,137 1,166 1,207 1,245 1,271 1,285 1,305 1,344 1,986 2,045 2,108 2,171 2,230 2,288 2,345 2,417 2,494 2,577 2,658 1,986 2,045 2,108 2,171 2,230 2,288 2,345 2,417 2,494 2,577 2,658 2,216 2,290 2,370 2,467 2,553 2,638 2,690 2,755 2,821 2,913 3, ,986 2,045 2,108 2,171 2,230 2,288 2,345 2,417 2,494 2,577 2,658 (New Peso per 100 Kilograms)

34 272 / World Meat: FAPRI 2002 Agricultural Outlook New Zealand Meat Supply and Utilization and Veal Stock Change (Million Head) Producer Prices and Veal (New Zealand Dollars per 100 Kilogram)

35 World Meat: FAPRI 2002 Agricultural Outlook / 273 Other Eastern European Meat Supply and Utilization and Veal Stock Change Stock Change Stock Change (Million Head) Countries included: Albania, Bosnia Herzg, Croatia, Macedonia, and Yugoslavia.

36 274 / World Meat: FAPRI 2002 Agricultural Outlook Other Former Soviet Union Meat Supply and Utilization and Veal (Million Head) ,252 1,251 1,235 1,250 1,259 1,281 1,299 1,323 1,346 1,371 1,397 1,252 1,251 1,235 1,250 1,259 1,281 1,299 1,323 1,346 1,371 1,397 1,376 1,389 1,403 1,419 1,441 1,465 1,490 1,515 1,539 1,562 1, ,252 1,251 1,235 1,250 1,259 1,281 1,299 1,323 1,346 1,371 1, Countries included: Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Moldova Republic, Tajikistan, Turkmenistan, and Uzbekistan.

37 World Meat: FAPRI 2002 Agricultural Outlook / 275 Philippine Meat Supply and Utilization Live Cattle Trade Import and Veal Farm Prices and Veal (Million Head) (Thousand Head) ,064 1,086 1,104 1,130 1,147 1,168 1,187 1,208 1,228 1,245 1,260 1,071 1,097 1,115 1,141 1,158 1,179 1,198 1,219 1,239 1,256 1,271 1,075 1,118 1,141 1,166 1,194 1,219 1,246 1,274 1,304 1,339 1, ,071 1,097 1,115 1,141 1,158 1,179 1,198 1,219 1,239 1,256 1, (Peso per Kilogram)

38 276 / World Meat: FAPRI 2002 Agricultural Outlook Polish Meat Supply and Utilization and Veal Producer Prices and Veal (Million Head) ,530 1,547 1,586 1,629 1,679 1,716 1,750 1,784 1,819 1,852 1,882 1,561 1,574 1,613 1,656 1,706 1,743 1,777 1,811 1,846 1,879 1,909 1,457 1,497 1,510 1,524 1,532 1,535 1,535 1,537 1,542 1,568 1, ,561 1,574 1,613 1,656 1,706 1,743 1,777 1,811 1,846 1,879 1, (Zloty per Ton)