Australia's Beef Exports Are on Track for a Record.

Australia's Beef Exports Reach Record Levels

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

The U.S. as Australia's Largest Export Market

According to data from Meat & Livestock Australia (MLA), despite a 10% tariff on the American cattle herd, the U.S. remains Australia's largest beef customer. Following the tariff imposed during the Donald Trump administration, rising U.S. red meat prices and a decrease in herd numbers increased Australia's beef import demands. Trump’s promise in November to lower tariffs on imported meat further strengthened this demand.

Strong Demand Report from International Markets

MLA indicates that demand from the U.S. is strong and persistent. "Even during the tariff period, the extraordinary strong demand from the U.S. supported Australian beef exports," it stated.

Significant Growth in Asian Markets

As of November, beef exports to the U.S. increased by 17%, reaching 412,000 tons. In the Chinese market, this figure rose to 243,000 tons, an increase of 43%. Additionally, Japan and South Korea are also notable markets with demand.

Production Increase Expected in Coming Years

According to MLA data, Australia's beef production could hit a new record by 2025. Although persistent drought in the southeast of the country has reduced herd numbers, the increase in global demand will help Australia attain a strong position heading into 2026.

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