Review of the situation on the EU Beef and Veal Market

"Single CMO" Management Committee 19th January 2012

Review of the situation on the EU Beef and Veal Market

2

Evolution EU production

HEADS

Estimates for last month of period : CY

YBov +13,5% +13,2% +13,5%

-6,0% +28,8%

EU 27

EU 10 EU 2

-2,8%

-21,9%

+52,5%

+0,1% +0,1%

-1,7% -1,7%

-3,1%

-1,9%

-15,9% +89,5%

-1,7%

+4,3% +4,2%

+0,2% -12,1%

EU 25

-2,9% -2,7%

EU 15

Jan-Oct 11/10

Bulls -1,3%

Steers

Cows +4,9%

-1,8%

Heifers -3,3%

Veals -0,6%

+0,4%

-3,0%

-9,5%

-1,2% -1,1%

-10,4%

Tot Bov+0,3%

+5,2%

-1,4%

+4,2%

-1,8%

-15,8%

-3,8%

+2,0%+1,7%+2,9%

-5,3%-3,4%

-1,4%

-8,0%

-3,8%

-27,9%

-0,8%

-5,2%

-0,4%

+3,5%

-3,6%

+0,5%

+3,0%

+0,1%

+6,3%

+10,0%

-6,2%

-14,9%

- 30 %

- 25 %

- 20 %

- 15 %

- 10 %

- 5 %

0%

+ 5 %

+ 10 %

+ 15 %

BE BG CZ DK DE EE IE GR ES FR IT CY LV LT LU HU MT NL AT PL PT RO SI SK FI SE UK- 30 %

- 25 %

- 20 %

- 15 %

- 10 %

- 5 %

0%

+ 5 %

+ 10 %

+ 15 %

EU : + 0,1%

3


TONNES

Estimates for last month of period : CY

Jan-Oct 11/10

YBov +15,8% +15,4% +15,6%

-17,5% +32,3%

Tot Bov+0,5% +0,3% +0,3%

-2,4% -2,4%

Veals -1,3% -1,6% -1,6%

-16,0% +51,4%

-0,3% -8,3%

Heifers -2,7% -2,6% -2,6%

-0,7% -21,5%

Cows

-2,3% -2,3%

EU 27

EU 10

EU 15

Steers -1,9% -1,9%

-12,1% +52,5%

EU 25

Bulls -2,1%

EU 2

-1,8%

-3,4% -24,3%

+4,6% +4,1% +4,0%

+6,3%

-1,3%

+2,3%

-1,5%

-15,7%

-1,6%

+2,4%+1,4%

+3,8%

-5,0%

+2,7%

-2,5%

-6,2%-7,4%

-2,8%

-22,5%

-2,4%-2,7%-1,6%

+4,1%

-4,4%

+0,0%

+2,7%

-0,8%

+4,3%

+10,2%

-16,7%

- 25 %

- 20 %

- 15 %

- 10 %

- 5 %

0%

+ 5 %

+ 10 %

+ 15 %

BE BG CZ DK DE EE IE GR ES FR IT CY LV LT LU HU MT NL AT PL PT RO SI SK FI SE UK - 25 %

- 20 %

- 15 %

- 10 %

- 5 %

0%

+ 5 %

+ 10 %

+ 15 %

EU : + 0,3%

4


1 000 TONS : Jan-Oct 10 / Jan-Oct 11

0

200

400

600

800

1000

1200

1400

B E B G C Z D K D E E E I E G R E S F R I T C Y L V L T L U H U M T N L A T P L P T R O S I S K F I S E U K

Cows

Steers

Bulls

Heifers

YBov

Calves

5


Percentual change in Adult Cattle SlaughterPeriod: Jan - Nov. (EU 27= -0,6%) Year: 2011 / 2010

-25,0%

-12,5%

0,0%

12,5%

BE BG CZ DK DE EE EI EL ES FR IT CY LV LT LU HU MT NL ÖS PL PT RO SI SK SF SE UK EU

6

Change in Veal Slaughter(Calves & Young Cattle)

Period: Jan - November Year:2010 & 2011

0,000

25,000

50,000

75,000

100,000

125,000

150,000

175,000

200,000

BE BG CZ DK DE EE EI EL ES FR IT CY LV LT LU HU MT NL ÖS PL PT RO SI SK SF SE UK

Slau

ghte

r in

Tonn

Y. CattleCalves


7


Avg WEIGHT

Estimates ( HD ) for last month of period : CY Estimates ( TN ) for last month of period : CY

EU 15 EU 25 EU 27

EU 10 EU 2Jan-Oct 11/10

Bulls +0,8% +0,5% +0,5%

-2,1% -3,1%

Steers -0,0% -0,0% -0,1%

+4,5% -19,5%

Cows -0,3% -0,2% -0,1%

-0,6% +4,3%

Heifers +0,6% +0,5% +0,4%

-1,2% -13,3%

+0,0%

-0,7% -2,3%

Veals -0,7% -0,5% -0,5%

-6,2% -0,7%

YBov

Tot Bov+0,1% +0,0%

+2,0% +1,9% +1,9%

-12,3% +2,7%

+1,0%+0,1%

-1,6%-0,6%

+0,2%

+2,3%

+0,2%

-0,2%

+0,9%+0,3% +0,0%

+0,5%+1,1%

-1,7%

-0,0%

-1,2%

+0,6%

-0,8%-0,4%

-2,0%

-0,3%-0,7%

-1,8%

+6,4%

-1,0%

-10,3%

+7,6%

- 15 %

- 10 %

- 5 %

0%

+ 5 %

+ 10 %

BE BG CZ DK DE EE IE GR ES FR IT CY LV LT LU HU MT NL AT PL PT RO SI SK FI SE UK - 15 %

- 10 %

- 5 %

0%

+ 5 %

+ 10 %

EU : + 0,0%

8

Young bull carcasses (A R3 – €/100 kg cw)

383,00 379,70% change y/y : + 9,0% % change y/y : + 9,2%

Price in week 1 : Average price in décembre 2011 :

280

300

320

340

360

380

400

W1 W5 W9 W13 W17 W21 W25 W29 W33 W37 W41 W45 W49 W53

2005-2009 Avg 2010 2011 2012

A - R 3 > Wk.01-2012

Evolution EU prices

9

Steer carcasses (C R3 – €/100 kg cw)



280

300

320

340

360

380

400

W1 W5 W9 W13 W17 W21 W25 W29 W33 W37 W41 W45 W49 W53

2005-2009 Avg 2010 2011 2012

C - R 3 > Wk.01-2012

Evolution EU prices

10

(A/C R3 – €/100 kg cw)

Evolution EU prices


172,5%


% Ref. Price in wk 1 :

222,4

244,6

266,9

289,1

311,4

333,6

355,8

378,1

400,3

W1 W5 W9 W13 W17 W21 W25 W29 W33 W37 W41 W45 W49 W53

€/100 kg cwe

100%

110%

120%

130%

140%

150%

160%

170%

180%

2005-2009 Avg 2010 2011 2012

% of Reference Price

AC - R 3 > Wk.01-2012

11

Cow carcasses (D O3 – €/100 kg cw)



210

220

230

240

250

260

270

280

290

W1 W5 W9 W13 W17 W21 W25 W29 W33 W37 W41 W45 W49 W53

2005-2009 Avg 2010 2011 2012

D - O 3 > Wk.01-2012

Evolution EU prices

12

Heifer carcasses (E R3 – €/100 kg cw)



300

310

320

330

340

350

360

370

380

390

W1 W5 W9 W13 W17 W21 W25 W29 W33 W37 W41 W45 W49 W53

2005-2009 Avg 2010 2011 2012

E - R 3 > Wk.01-2012

Evolution EU prices

13

Live bovines (1)Male store cattle (6-12 months; ≤ 300 kg – €/100 kg live weight)



200

210

220

230

240

250

W1 W5 W9 W13 W17 W21 W25 W29 W33 W37 W41 W45 W49 W53

2005-2009 Avg 2010 2011 2012

BROUT > Wk.01-2012

Evolution EU prices

14

Live bovines (2a)Male DAIRY CALVES calves aged between 8 days and 4 weeks (€/head)

Evolution EU prices

0

50

100

150

200

250

300

350

€ / H

ead

0

50

100

150

200

250

300

350

€ / H

ead

DE - SCHWARZBUNTE DE - BRAUNVIEH ES - TIPO FRISONFR - MALES-ENGRAISSEMENT IE - DAIRY MALE IT - MALES-LAITIERS-VITELLINL - ROODBONT-NUKAS NL - ZWARTBONT-NUKAS UK - DAIRY BULLS

2 0 1 0 2 0 1 1 2 0 1 2 > W1

15

Live bovines (2b)Male BEEF CALVES calves aged between 8 days and 4 weeks (€/head)

Evolution EU prices

100

200

300

400

500

600

€ / H

ead

100

200

300

400

500

600

€ / H

ead

DE - FLECKVIEH DE - KREUZUNGSKALBER ES - TIPO CRUZADO FR - MALES-ELEVAGEIE - BEEF MALE IT - MALES-BOUCHERIE NL - VLEESRAS--NUKAS UK - BEEF BULLS

2 0 1 0 2 0 1 1 2 0 1 2 > W1

16

Live bovines (3a)Butcher calves (€/100 kg cw)

Evolution EU prices

350

400

450

500

550

600

650

700

€ / 1

00 k

g ca

rcas

se

350

400

450

500

550

600

650

700

€ / 1

00 k

g ca

rcas

e

BE - VEAUX BLANCS E,U,R FR - VEAUX DE BOUCHERIE IT - CARNE BIANCA NL - VLEESKALF-ROOD NL - VLEESKALF-ZWART

2 0 1 0 2 0 1 1 2 0 1 2 > W1

17

Remainder of: Selling price AR 3,minus purchased calf plus feedcost for grain fattening

0

100

200

300

400

| 2007 | 2008 | 2009 | 2010 | 2011 |

€uro

/ hea

d

0

50

100

150

200

250

300

350

400

450

Remainder Young Bulls A.R 3 Extra gain FC 6-7 Feedcost x*7

Feed conversion rate: (FCR) 7 or 6 kg feed = 1kg live weight.Feed ration: 40% compound feed (energy + proteine), 15% barley, 15% maize, 20% wheat, 10% strawCarcase yield: 0.57

Evolution margin over animal + feed purchase costs

18

Remainder of: Selling price AR 3,minus purchased calf plus feedcost for grain/ grass fattening.

0

100

200

300

400

500

| 2007 | 2008 | 2009 | 2010 | 2011 |

€uro

/ hea

d

0

100

200

300

400

500

Remainder Young Bulls A.R 3 Extra gain FC 6-7 Feedcost x*7

Feed conversion rate: (FCR) 7 or 6 kg feed = 1kg live weight.Feed ration: 62,7% fodder (silage maize), 18,6% grains (maize + wheat, 13,3% soja cake, 5,3% strawCarcase yield: 0.57

Evolution margin over animal + feed purchase costs

19

EU exports of beef and live animals (1):Trade figures (COMEXT – tonnes cwe)

DestinationsCompared

tonnes % tonnes % tonnes % tonnes % tonnes % to Jan-Nov 10

Turkey 214 0,1% 204 0,1% 571 0,2% 70.370 14,5% 156.423 26,6% +++Russia 87.277 35,2% 102.347 35,1% 50.881 20,4% 135.762 28,0% 128.498 21,8% + 4,5%Sw itzerland 14.457 5,8% 25.968 8,9% 19.072 7,7% 22.340 4,6% 24.836 4,2% + 18,2%Croatia 16.460 6,6% 19.917 6,8% 25.126 10,1% 23.159 4,8% 23.143 3,9% + 9,2%Lebanon 3.647 1,5% 5.619 1,9% 7.838 3,1% 33.774 7,0% 21.834 3,7% - 29,9%Algeria 1.674 0,7% 1.689 0,6% 6.681 2,7% 16.151 3,3% 17.093 2,9% + 10,8%Other Destinations 117.053 47,3% 126.887 43,5% 125.591 50,4% 168.757 1,1% 217.170 36,9% + 31,1%EXTRA EU 25/27 247.722 291.601 249.165 485.166 588.997

% change + 18% - 15% + 95% + 40,3%

2007 2008 2009 Jan-Nov 112010

EU beef trade

20

EU exports of beef and live animals:Trade figures (COMEXT)

EU EXPORTS of Beef & Veal (1000 EUR)

600.988

118.097

248.071

331.036

243.463

332.358

485.441

559.714

1.050.162

1.787.411

0

200.000

400.000

600.000

800.000

1.000.000

1.200.000

1.400.000

1.600.000

1.800.000

2.000.000

Jan-Nov 09 Jan-Nov 10 Jan-Nov 11

1,00

0 EU

R

Turkey Russia SwitzerlandCroatia Algeria LebanonOther destinations

EU EXPORTS of Beef & Veal (Tonnes cwe)

156.42346.907

122.938

128.498125.213

165.651

217.170

227.286

419.738

588.997

0

100.000

200.000

300.000

400.000

500.000

600.000

700.000


Tonn

es c

w

Turkey Russia SwitzerlandCroatia Algeria LebanonOther destinations

EU beef trade

21

Exports of BEEF products

0

10. 000

20. 000

30. 000

40. 000

50. 000

60. 000

70. 000

80. 000

|J an06

2006 |J an07

2007 |J an08

2008 |J an09

2009 |J an10

2010 |J an11

2011 |J an12

2012

in T

onne

s cw

e

LI VE ANI MALS FRESH FROZEN PREPARED OTHERS

EU beef trade

22

EU beef Exports to TURKEYTrade figures (COMEXT data) tonnes cwe

0

5 000

10 000

15 000

20 000

25 000

30 000

35 000

40 000

Jan

10

Feb

10

Mar

10

Apr

10

May

10

Jun

10

Jul 1

0

Aug

10

Sep

10

Oct

10

Nov

10

Dec

10

Jan

11

Feb

11

Mar

11

Apr

11

May

11

Jun

11

Jul 1

1

Aug

11

Sep

11

Oct

11

Nov

11

Fresh Bovine "Compensated" quarters Fresh Bovine (un)-separated ForequartersFresh Bovine (un)-separated Hindquarters Frozen Bovine "Compensated" quartersLive Animals TOTAL

EU beef trade

23

EU beef Exports to RUSSIATrade figures (COMEXT data) tonnes cwe

0

2 000

4 000

6 000

8 000

10 000

12 000

14 000

16 000

18 000

20 000

22 000

24 000

Jan

10

Feb

10

Mar

10

Apr

10

May

10

Jun

10

Jul 1

0

Aug

10

Sep

10

Oct

10

Nov

10

Dec

10

Jan

11

Feb

11

Mar

11

Apr

11

May

11

Jun

11

Jul 1

1

Aug

11

Sep

11

Oct

11

Nov

11

Live animals Fresh Bovine meatFrozen Bovine meat Beef OffalsTOTAL

EU beef trade

EU beef Exports to RUSSIATrade figures (COMEXT data) tonnes cwe

24

EU beef trade

EU Exports of LIVE Bovine Animals(Source COMEXT - Tonnes cwe)

2 01

4

.

3 11

2

.

2 25

9

.

2 69

9

.

2 76

0

.

2 05

7

.

2 93

3

.

3 39

9

.

3 84

0

.

2 81

6

.

3 02

9

.

2 61

1

. 6 56

0

. 9 63

7

.

7 10

4

.

2 11

1

.

2 51

1

.

3 56

5

.

5 78

9

. 3 95

3

.

3 80

4

.

3 18

3

.

2 43

2

.

1 87

6

.

1 92

9

.

3 34

8

.

3 96

9

.

2 72

8

.

2 95

6

.

3 60

7

.

4 04

0

.

4 09

9

.

4 25

1

.

3 09

7

.

3 45

8

.

4 59

7

.

4 12

7

.

5 00

5

.

3 67

7

.

5 21

3

.

2 68

4

.

3 00

4

.

4 37

4

.

4 32

8

. 5 85

1

.

5 32

9

.

5 82

9

. 5 41

8

.

6 60

1

.

6 61

7

.

6 15

8

.

5 13

5

.

4 11

2

.

5 07

0

.

5 02

8

.

4 88

6

.

4 43

7

.

4 89

2

.

5 47

4

.

6 03

8

.

7 35

8

.

6 65

1

.

5 41

3

.

0

2 000

4 000

6 000

8 000

10 000

12 000

14 000

16 000

18 000

20 000

Jan

09

Feb

09

Mar

09

Apr

09

May

09

Jun

09

Jul 0

9

Aug

09

Sep

09

Oct

09

Nov

09

Dec

09

Jan

10

Feb

10

Mar

10

Apr

10

May

10

Jun

10

Jul 1

0

Aug

10

Sep

10

Oct

10

Nov

10

Dec

10

Jan

11

Feb

11

Mar

11

Apr

11

May

11

Jun

11

Jul 1

1

Aug

11

Sep

11

Oct

11

Nov

11

Tonn

es C

WE

.

Turkey Algeria

Lebanon Other

25

EU exports of beef and live animals (3):Licence applications for exports with refunds (tonnes cwe)

LIVE ANIMALS

FRESH BEEF

FROZEN BEEF

TINNED BEEF TOTAL

2010-11 : 17.460 107.286 38.623 0 163.3702011-12 : 12.194 71.716 21.190 0 105.100

( W 28 ending 08 / 01 / 2012 )% Share ( W 28 ) 11,6% 68,2% 20,2% 100,0%

- 30,2% - 33,2% - 45,1% - 35,7%% Chg / Prev. Same Period

Σ Week 01 > 28

G A T T Y E A R S

EVOLUTION IN EXPORT STRUCTURE ( % share - GATT years )

0%

20%

40%

60%

80%

100%

2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12*

Live animals Fresh beef Frozen beef Tinned beefW28

EU beef trade

EVOLUTION PER CATEGORY ( tonnes cwe - GATT years )

0

50.000

100.000

150.000

200.000

Live animals Fresh beef Frozen beef Tinned beef

2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12*W28

26

EU imports of beef and live animals (1):Trade figures (COMEXT – tonnes cwe)

OriginsCompared

tonnes % tonnes % tonnes % tonnes % tonnes % to Jan-Nov 10

Brazil 363.839 65,4% 171.454 43,4% 149.007 34,6% 144.791 38,2% 115.026 38,9% - 14,3%Argentina 97.656 17,6% 92.924 23,5% 122.494 28,4% 79.487 21,0% 57.750 19,5% - 22,2%Uruguay 39.544 7,1% 66.402 16,8% 79.144 18,4% 66.156 17,5% 47.454 16,1% - 22,5%USA 2.746 0,5% 6.547 1,7% 9.609 2,2% 15.290 4,0% 19.157 6,5% + 38,4%Australia 10.019 1,8% 12.957 3,3% 16.937 3,9% 13.628 3,6% 16.210 5,5% + 39,5%New Zealand 5.756 1,0% 12.455 3,2% 15.783 3,7% 13.669 3,6% 14.547 4,9% + 10,7%Namibia 10.467 1,9% 10.348 2,6% 12.457 2,9% 13.571 3,6% 8.432 2,9% - 35,8%Switzerland 2.855 0,5% 2.919 0,7% 4.394 1,0% 4.450 1,2% 5.122 1,7% + 28,7%Chile 2.844 0,5% 2.550 0,6% 3.158 0,7% 2.441 0,6% 2.049 0,7% - 7,7%Botswana 13.929 2,5% 10.395 2,6% 11.452 2,7% 15.763 4,2% 980 0,3% - 93,3%Serbia 2.324 0,4% 1.784 0,5% 990 0,2% 1.127 0,3% 712 0,2% - 30,9%EXTRA EU 25/27556.024 395.063 431.182 378.954 295.566

% change - 29% + 9% - 12% - 15,8%

2007 2008 2009 Jan-Nov 112010

EU beef trade

27

EU imports of beef and live animals (2):Trade figures (COMEXT)

I MPORTS of Beef & Veal i nt o EU ( Tonnes cwe)

134.571 134.195 115.026

112.55474.251

57.750

72.899

61.246

47.454

50.405

54.361

41.634

394.054351.038

295.566

0

50.000

100.000

150.000

200.000

250.000

300.000

350.000

400.000

450.000


InTonnes

cw e

Brazil Argentina UruguayUSA New Zealand Other destinations

I MPORTS of Beef & Veal i nt o EU ( 1000 EUR)

388. 003 446. 351 495. 779

466. 042 429. 326 423. 515

253. 586 240. 422 252. 718

192. 692 230. 608225. 681

1. 482. 5531. 407. 8441. 600. 445

0

200. 000

400. 000

600. 000

800. 000

1. 000. 000

1. 200. 000

1. 400. 000

1. 600. 000

1. 800. 000

J an- Nov 09 J an- Nov 10 J an- Nov 11

i n 1000EUR

Br azi l Ar gent i na UruguayUSA New Zeal and Ot her dest i nat i ons

EU beef trade

28

I mpor t s of BEEF product s

0

10. 000

20. 000

30. 000

40. 000

50. 000

60. 000

|J an06

2006 |J an07

2007 |J an08

2008 |J an09

2009 |J an10

2010 |J an11

2011 |J an12

2012

in T

onne

s cw

e

FRESH FROZEN PREPARED OTHERS

EU beef trade

29

452403

446401

436 429 398

491 513 529565

513556

395 431379

296

1. 263

1. 1711. 120

825

1. 028

736

598 598

481 455

352292

248292

249

485

589

0

200

400

600

800

1. 000

1. 200

1. 400

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 J an-Nov11

1000 Tonne

I MPORTS EXPORTS

Trade balance on beef and live animals

EU beef trade

30

Index of monthly exchange rates of the main trading partners compared to the €uro

notification on the 1st of the month January 2001 = 100

75,0

100,0

125,0

150,0

175,0

I 2007 I 2008 I 2009 I 2010 I 2011 I 2012 |Real US$ Ruble AUS$ CDN$

World beef market

31

World beef market

Source : GTA * Excluding live animals (0102), fats, preparations of several types of meat (0209, 0210 99 and 1602 90)

* EU was the 7th biggest importer of Beef products in 2010

Main Exporters of BEEF Products (up to November)Un

ited

Stat

es (u

p to

Oct

11)

Unite

d St

ates

(up

to O

ct 1

1)

Aust

ralia

Aust

ralia

Braz

il

Braz

il

Indi

a (u

p to

May

11)

Cana

da (u

p to

Oct

11)

Cana

da (u

p to

Oct

11)

New

Zeal

and

(up

to O

ct 1

1)

EU

EU

Urug

uay

(up

to J

ul 1

1)

Urug

uay

(up

to J

ul 1

1)

Chin

a +

H. K

ong

Chin

a +

H. K

ong

Indi

a (u

p to

May

11)

New

Zeal

and

(up

to O

ct 1

1)

Arge

ntin

a (u

p to

Oct

11)

Arge

ntin

a (u

p to

Oct

11)

0

250

500

750

1.000

1.250

1.500

1.750

2.000

2.250

2.500

2010 (up to November) 2011 (up to November)

Qty

in 1

000

Tonn

es

Only Jan-Apr 2011 available for India (661 900 T in 2010 - 4th main exporter)

Order of countries based on 2010 total exports

32

World beef market

Source : GTA * Excluding live animals (0102), fats, preparations of several types of meat (0209, 0210 99 and 1602 90)

* EU was the 7th biggest importer of Beef products in 2009

Main Importers of BEEF Products (up to November)Un

ited

Stat

es (u

p to

Oct

11)

Unite

d St

ates

(up

to O

ct 1

1)

Russ

ia (u

p to

Oct

11)

Chin

a +

H. K

ong

Chin

a +

H. K

ong

Mex

ico

(up

to S

ep 1

1)

Japa

n

Sout

h Ko

rea

Sout

h Ko

rea

EU

EU

Cana

da (u

p to

Oct

11)

Cana

da (u

p to

Oct

11)

Turk

ey

Turk

ey

Russ

ia (u

p to

Oct

11)

Mex

ico

(up

to S

ep 1

1)

Japa

n

0

100

200

300

400

500

600

700

800

900

1.000

1.100

1.200

1.300

2010 (up to November) 2011 (up to November)

Qty

in 1

000

Tonn

es

.

Order of countries based on 2010 total imports

33

Market prices for Adult Male Bovine in Brazil (Pecuaria.com.br), Argentina (Oncca) Uruguay (Inac) and EU

100,0

150,0

200,0

250,0

300,0

350,0

| Year2008

| Year2009

| Year2010

| Year 2011 | Year 2012 |

€uro

/ 100k

g

EU Beef A/C R3 AVG Arroba do Boi (6 St) (Pecuària.com.br)Novillos Export (Oncca Argentina) Media Res Novillo (Inac Uruguay)

World beef market

34

weekly US & EU Steer prices in €uro/100kg carcase

80,00

130,00

180,00

230,00

280,00

330,00

380,00

| 09 | 10 | 11 |

Steers 550-700lb Omaha (Nebraska) Feeder Steer 600-700lb Oklahoma CityEU Beef C R3 Steers 1050 - 1200lb Okla/ TexCanada: All Steers (agr,gc,ca) Australia: All SteersNew Zeal. Avg steers T2 NI & SI

World beef market

35

ALL CATEGORIES GLOBAL VIEW( €/100 kg cw )

Conclusion

200

250

300

350

400

2007 2008 2009 2010 2011 2012

A R3

C R3

D O3

E R3Last Update : Week 1 - 2012

Documents

Review of the situation on the EU Beef and Veal Market