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. Rising U.S. demand and steady exports have pushed beef shipments to 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 the American cattle herd, the U.S. remains Australia's largest beef customer. Following the tariff imposed by the Donald Trump administration, the rise in American red meat prices and the decline in herd numbers have increased the demand for Australian beef imports. Trump's promise to reduce tariffs on imported meat in November further bolstered this demand.

Strong Demand Report from International Management

MLA states that the demand from the U.S. is strong and enduring. It was noted that, “Even during the tariff period, the extraordinary strong demand from the U.S. supported Australian beef exports.”

Significant Growth in the Asian Market

As of November, beef exports to the U.S. increased by 17 percent, reaching 412,000 tons. In the China market, this figure rose to 243,000 tons, reflecting a 43 percent increase. Moreover, Japan and South Korea are also prominent markets with high demand.

Production Increase Expected in Coming Years

According to MLA data, Australia’s beef production could set a new record by 2025. Although drought conditions in the southeastern part of the country are constraining herd numbers, the increase in global demand will help Australia gain 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 capitalize on this momentum.”