Dozens of beef producers and industry representatives gathered at the Rockhampton Leagues Club this morning (Tuesday) to hear the latest on trends in the US beef market at the Rabobank Beef Breakfast.
Guests were treated to a presentation from respected US Rabobank animal protein analyst, Don Close who provided first-hand insights into the impact of ongoing drought conditions in parts of the US on herd size, export markets and domestic prices.
Mr Close said that despite some challenges, it was an exciting time for the global beef industry.
“I have never seen a global marketplace that is as exciting as the one we are in now,” he said.
Mr Close said there were “incredible opportunities” in markets such as China and Africa and cited trends around home delivered food services and meal kits.
He also answered questions on issues such as animal welfare and the rise of synthetic meats.
On the issue of ‘fake’ meats, Mr Close said developing products such as synthetic proteins may be beneficial in helping to feed a growing global population.
But he stressed, beef industries must push back against such products being labeled ‘meat’.
Mr Close said beef producers could learn from the dairy sector which has faced challenges around products labeled as ‘milk’ derived from produce such as nuts and soybeans.
More on Mr Close’s presentation to come.
