According to a report by the US Department of Agriculture's Global Agricultural Information Network, the cattle population in the European Union has been reducing since 2017 and this trend is expected to continue in 2024.

Dairy and beef cattle farmers are experiencing reduced profit margins due to high costs of feed, energy, and labour. Additionally, new regulations imposed by the European Commission create uncertainty for farmers and limit their ability to invest.

The EU's slaughter rate has been declining, leading to a smaller cow herd and a shrinking supply of young animals. As a result, beef production is expected to decline, leading to increased prices, reduced sales, and a decrease in EU imports and exports of beef.

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