Australia is on track for a record in beef exports.

Australia's Beef Exports Reach Record Levels

Australia has managed to break 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 percent increase compared to the same period last year.

U.S. Remains Australia's Largest Export Market

According to data from Meat & Livestock Australia (MLA), despite a 10% tariff on the U.S. cattle herd, the U.S. continues to be Australia's largest beef customer. Following the tariff implemented during the Donald Trump administration, rising U.S. red meat prices and declining herd numbers increased the demand for beef imports from Australia. Trump's promise in November to reduce tariffs on imported meat further strengthened this demand.

Strong Demand Report from International Management

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

Significant Growth in Asian Market

As of November, beef exports to the U.S. increased by 17%, rising to 412,000 tons. In the China market, this figure reached 243,000 tons, representing a 43% increase. Additionally, Japan and South Korea stand out as other significant markets with demand.

Production Increase Expected in Coming Years

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