Latest short-term agricultural outlook: very good cereal harvest and increased meat and milk production expected
Prospects for 2014 indicate an above average EU cereal harvest for the second year in a row (and a record level of cereal exports for marketing year 2013/14), according to the Commission's Summer 2014 Short-Term Agricultural Outlook published today. Given the export performance, only a partial recovery of the cereal stock-to-use ratio is expected.
After two years of tight supply, EU meat production is expected to grow again. The mild economic recovery in the EU raises the prospect of increased meat consumption, but meat exports are seen as likely to decline, with pig and poultry meat being the most affected sectors, following growing uncertainty in some of the most important trade partners.
Milk deliveries in the EU were at an all-time high in the first four months of this year. Nevertheless, milk prices remained firm and largely above last year given strong export demand, especially for milk powders. Over the whole year, the expected milk production increase is close to 3%.