Argentina: Livestock and Products Annual

Beef production in 2024 is projected at 3.12 million tons carcass weight equivalent (CWE), down marginally from 2023, a year with high slaughter levels because of a severe drought. The combination of improved weather conditions over the next few months and the change of government in December 2023 creates a lot of questions about the future of the sector. The recovery of pastures should encourage producers to retain cattle as they normalize production. Of the three leading presidential candidates, two have expressed the need of significant economic changes, lowering state deficit, opening the economy and promoting exports. Shipments in 2024 are forecast at 900,000 tons CWE, the highest volume in the past 60 years. China is projected to continue being the main destination, accounting for about 70 percent of the total volume, despite low prices. Higher prices and demand from U.S. importers are helping local exporters to find an alternative destination to China.