Australia is Racing Towards 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.

U.S. is 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. continues to be Australia’s largest beef customer. Following the tariff imposed by the Donald Trump administration, rising prices for American red meat and a decrease in herd numbers have increased Australia's beef import demands. Trump's promise to reduce tariffs on imported meat in November further strengthened this demand.

Strong Demand Report from International Markets

MLA states that the demand from the U.S. is strong and enduring. It remarked, “Even during the tariff period, the extraordinarily strong demand from the U.S. supported Australia's beef exports.”

Significant Growth in the Asian Market

As of November, beef exports to the U.S. have increased by 17% to reach 412,000 tons. In the Chinese market, this figure has reached 243,000 tons, representing a 43% increase. Additionally, Japan and South Korea are emerging 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 have decreased due to ongoing droughts 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 very well positioned to take advantage of this momentum.”