Understanding the cattle cycle, why US beef prices are at record highs and the role of Australia and Brazil

Commodities Focus

Beef prices in the US started 2025 at a record high. The world’s largest consumer is also seeing a 63-year low in the size of its cattle herd and is expected to continue calling on supplies from Brazil and Australia, the world’s two biggest exporters. That’s because US farmers have been sending a high proportion of female animals to slaughter before they calved, shrinking their beef operations in response to low prices and higher costs. Luckily, Brazil and Australia are at different stages of the cattle cycle.

In this podcast, William Bland, EMEA manager of price reporting for Agriculture & Food, and Ryan Urie, the global head of meat and livestock research, speak to Kevin Coburn and Renan Araujo about how the market is planning for 2025.

Links: Platts Proteins Price Assessments

Brazil Beef Marker (BBM) - ATALC00

90CL Beef CIF US - ATALB00

90CL FCA Australia – ATALD00