Commodities
Minerva Sees Global Herds Shrinking in Sign of Pricier Beef
The US became Minerva’s main client by the end of 2024, making up 23% of its exports and surpassing former top client China.
Photographer: Chase Castor/BloombergThis article is for subscribers only.
Cattle herds are declining in the US, Europe and China, according to Brazilian meatpacker Minerva SA, in a sign that beef prices could rise further.
The US is already struggling with the smallest herd in more than seven decades, and now China and Europe are starting to face a decrease in their cattle supplies, Fernando Galletti de Queiroz, Minerva’s chief executive officer, said during an earnings call on Thursday.