Rabbobank is calling for global beef supplies to remain tight through 2015.
In its quarterly outlook for the first quarter of 2015, Rabbobank forecast renewed price strength and tight supplies in the first quarter of 2015.
Food Business News reports an improving economy and a strong dollar have positioned the United States as a major influence on global beef market trends.
Rabbobank’s Angus Gidley-Baird said “The U.S. continues to be the driver in the global beef market with constrained supply and strong demand keeping prices high.”
Baird said Rabbobank is keeping a close eye on the price of oil and the Russian Ruble given Russia’s status as the world’s largest beef importer
