Canadian and United States beef industries are out of step with the global market, reports Rabobank.
The world situation is steady, but production is declining in Canada and the U.S.
However, North American retailers have kept from passing on record-high beef prices to customers so far this year, reports Rabobank.
Global beef supplies are expected to remain balanced over the next 12 months, the bank said.
Increased beef production in Brazil and Australia will offset declines in North America because both will increase their exports to keep the market steady.
