Australia reports strong outlook for beef exports
Meat and Livestock Australia (MLA) has highlighted a ‘strong outlook’ for Australian beef exports, as its main competitors face major challenges.
Exports have started to rise as the country rebuilds its herd, with Australian exports so far in 2023 at 25 per cent above levels seen in 2022.
MLA said this was ‘well-timed’, with beef production in the United States beginning to decline and challenges faced by Brazilian exporters.
The US had record exports last year as a difficult drought encouraged destocking. This year, slaughter and production levels have started to decline. While they still remain high, MLA said this was indicative of future declines.
Imports have increased, with more Australian beef heading to the US. The US cattle herd is currently at its smallest since 2015. Drops in production are expected to disproportionately affect exports, as processors prioritise the domestic market.
MLA said this should open up opportunities for Australian exports elsewhere, such as in Japan and South Korea, as well as within the US itself.
Alex Black | Farmers Guardian
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