Global Beef and Lamb Prices Expected to Rise Until 2027 — Analysts

Global beef and lamb prices are expected to continue rising over the next few years, according to leading analysts in the meat market.

This is reported by AgroReview

Record Levels and Price Trends in Meat

According to Brett Stuart and Simon Quilty, owners of the American company Global AgriTrends, the global meat market is currently experiencing an unprecedented situation. The experts note that in over two decades of market monitoring, they have not seen similar trends. In June, the FAO’s global beef price index reached a record level of 139.4 points, and this trend is expected to remain stable, according to specialists.

“A similar situation is observed in the lamb sector,” said Simon Quilty. “We have not yet reached record prices, but we are a millisecond away from it… They have risen by 68% from the minimum levels of October/November 2023. I truly believe that the market peak will likely occur next year. The sheep meat sector will probably reach its peak first, followed by the beef sector in the second half of next year.”

Growth Forecasts and Long-Term Outlook

Experts estimate that prices for New Zealand steers could increase by another 15%. Meanwhile, the cost of premium New Zealand lamb is likely to reach $10–11 per kilogram by mid-2026. Analysts expect that the lowest meat supply and peak prices will be observed in 2027–2028. After that, from 2029 to 2030, prices are likely to start declining due to increased meat production volumes.