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Market fundamentals remain very positive for the global beef industry, according to Rabobank’s Q1 Beef Quarterly report. Firm demand as well as further tightening supply due to drought-induced herd retention in the US and some adverse weather conditions in Brazil and Australia—the three main beef exporters—pushed prices up across the globe in Q1 2014. Combined with fluctuating exchange rates, these events have impacted competitive positions in export markets, with Brazil and Australia gaining export share in Q1 at the expense of the US.
