Australia is on track for a record in beef exports.

Australia's Beef Exports Reach Record Levels

Australia has managed to set a new record in beef exports as the year comes to a close. Thanks to rising U.S. demand and stable exports, beef shipments reached 1.4 million tons in the first 11 months of 2023, representing a 15 percent increase compared to the same period last year.

The U.S. is Australia’s Largest Export Market

According to data from Meat & Livestock Australia (MLA), despite a 10 percent tariff on American cattle herds, the U.S. continues to be Australia's largest beef customer. Following the tariff imposed by the Donald Trump administration, rising prices of American red meat and a decline in herd numbers have increased Australia's beef import demands. Trump's promise in November to lower the import taxes further strengthened this demand.

Strong Demand Report from International Management

MLA indicates that the demand from the U.S. is strong and persistent. “Even during the tariff period, the extraordinarily strong demand from the U.S. supported Australia's beef exports,” it stated.

Significant Growth in the Asian Market

As of November, beef exports to the U.S. increased by 17 percent to 412 thousand tons. In the Chinese market, this number reached 243 thousand tons, representing a 43 percent increase. Additionally, Japan and South Korea have emerged as other significant markets showing demand.

Production Increase Expected in Coming Years

According to MLA data, Australia's beef production could set a new record by 2025. Although herd numbers are shrinking due to ongoing drought in the southeast of the country, the increase in global demand will help Australia secure a strong position by 2026.

MLA International Markets General Manager Andrew Cox stated, “Global beef demand is rapidly increasing, and Australia is well-positioned to take advantage of this momentum.”