Australia's 2023 beef exports match higher output

Australia's beef exports hit a five-year high in 2023, with cattle herd numbers at the largest level in nine years and as beef production increased.

Australian 2023 beef exports totalled 1.08mn t, up from 854,592t the previous year, according to data from the Department of Agriculture Fisheries and Forestry (DAFF). The last time Australian exports were higher was in 2019 at 1.23mn t.

December 2023 exports of 106,724t were up from 93,802t the previous month and 76,118t in December 2022.

December is traditionally a low export month with reduced trading days because of public holidays, although increased production in the final quarter of 2023 saw exports finish the year strongly.

Exports to the US in 2023 increased by 84pc from a year earlier. This rising trend is expected to continue in 2024, as US domestic beef production falls as the country heads into a period of herd rebuilding following a drought-affected 2020-23.

Shipments to the US will likely increase in 2024, largely because of increased Australian production. But the value of these exports is likely to remain low with the US unwilling to pay more with increased competition of cheaper product offered from Brazil, according to an Australian meat trader.

The US' reduced beef production puts Australia well placed to fill the void in Japanese demand. Australian beef exports to Japan in December increased by 7pc from the previous month but fell by 4pc from a year earlier.

Australia's exports to Indonesia in 2023 increased by 74pc from a year earlier. Its live cattle exports remained low compared with the highs in 2019 and 2020, as Indonesia opted for cheaper processed Australian beef against expensive cattle.

Exports to China in 2023 rebounded by 30pc from a year earlier.

Jessica Clarke