Global beef quarterly Q2 2025: Trump, tariffs, and trade – Disruption in global beef markets

Global cattle markets have all been trending higher in the first half of 2025, with European cattle prices jumping dramatically as supply limitations start to bite. Global production volumes held for Q1, but RaboResearch expects contractions across many of the major markets for the remainder of 2025. One of the most common topics for discussion has been the threat and imposition of tariffs and any resulting trade agreements. The feature article in our global beef quarterly looks at the impact to date and considers what may arise from the ongoing trade disruptions.