2011 Trade Forecast Update:

Pork Higher; Beef and Broiler Meat Stable

Beef production is virtually unchanged since the last forecast in October 2010 and tight supplies and
high prices continue to constrain significant trade expansion. Amidst this environment, the revised
trade forecast calls for a shift in gains expected among exporters as supplies, prices and exchange
rates impact competitiveness particularly in Middle East and Southeast Asia markets. Increases in
shipments are now expected to be largely captured by up-and-coming supplier India rather than
Brazil, the world’s leading exporter. Demand in many key markets is largely dependent on the pace
of economic recovery.

http://www.fas.usda.gov/dlp/circular/2011/livestock_poultry.pdf