Australia is on track to set a record in beef exports.

Australia's Beef Exports Reach Record Levels

As the year comes to a close, Australia has managed to set a new record in beef exports. Rising U.S. demand and steady exports have allowed beef shipments to reach 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 the 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 Reported from International Markets

MLA states that demand from the U.S. remains strong and persistent. “Even during the tariff period, the extraordinarily strong demand from the U.S. supported Australian beef exports,” they noted.

Significant Growth in the Asian Market

As of November, beef exports to the U.S. rose by 17 percent to 412,000 tons. In the China market, this figure reached 243,000 tons with a 43 percent increase. Additionally, Japan and South Korea are emerging as other important markets with growing demand.

Production Increase Expected in Coming Years

According to MLA data, Australia’s beef production may reach new record levels by 2025. Although herd sizes have shrunk due to ongoing drought in the southeast of the country, increased global demand will help Australia secure a strong position by 2026.

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