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Well-positioned to supply emerging-market meat demand
The global meat supply has failed to keep up with increased demand, especially from consumers in developing nations. Even with record-high global prices, the supply response has been dampened by a variety of factors, including high grain prices, lack of adequate pastureland and limited water resources. Consumers, who will be reluctant to reverse dietary improvements and reduce their intake of animal protein in the face of higher prices, will force governments to increase dependence...