A "commodity bull" is on the way - for the moment, masked by the macroeconomic situation - but it will happen, Brett Stuart has told the United States' Cattlemen's Beef Board/National Cattlemen's Association joint international marketing committee.
For one reason, critical financial markets around the world have been improving since March, said Stuart, an analyst at Cattle-Fax.
Additionally, the world is expanding by 80 million people per year and will grow from 6 billion people today to 9 billion people by 2050, he said.
This growth in population will require food production to increase 30 per cent by 2020 and by 70pc by 2050, beef and dairy production will need to double by 2050 and all this will need to happen on only 13pc more land than is in production today, he said, citing estimates from the United Nations Food & Agricultural Organisation.
Food producers have "a bright future", he said. "There is a commodity bull out there."
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