Part 1: Rabobank Global Animal Protein Outlook

This marks the first of a four-part series featuring Rabobank. Rabobank recently released the annual Global Animal Protein Outlook and Lance Zimmerman, senior animal protein analyst gives an overview.

“High costs are really creating a different market environment for global animal protein. And we've gone through a several-year period here, depending on what marketplace you're actually talking about, where tighter margins have really weighed on animal protein producers and processors alike. In addition to that, all the uncertainty that's happened, both leading up to and coming out of the pandemic. And so because of that, overall animal protein production, and some of the aggressive growth that we had seen over the last several years, is starting to slow down, we're still going to see more total animal protein production across all the different species. But it's going to come at a much slower pace. And we certainly realize that with even what we're seeing within the North American markets, but obviously, it's even seen across the globe as we look at those other major producing regions as well.”

Rabobank continues to see year-over-year growth in the poultry and aquaculture segments. However, there are growing concerns in the decline of beef, pork, and wild catch segments. The US is leading the global decline with an expected 1.3 billion pound reduction overall. In tomorrow's report hear more with Zimmerman on how producers are adapting to structural changes.