Australia sets sights on U.S. beef export markets
Beef Outlook: With a drought over, cattle producers in Australia are increasing beef production.
Scott Brown, BEEF Magazine
Oct 07, 2021
Brown is a livestock economist with the University of Missouri
Developments in the cattle herd on the other side of the world could have an important impact on the outlook for the U.S. beef sector in 2022 and beyond as Australia increases production.
U.S. beef exports have made significant gains in terms of both value and volume thus far in 2021. For the first eight months of the year, 63% of these shipments have been destined for the markets of Japan, South Korea and mainland China.
Australia has long been a major competitor in these markets. While 41% of Japanís beef imports for 2019 and 2020 were sourced from the U.S., Australia held a 46% share. In the South Korea beef import market, the U.S. supplied 54% of shipments from 2019-20, with Australia accounting for 39%.
Chinaís beef imports have tended to include a large share of beef from South America, although higher-valued beef targeting the food-service sector and some retail outlets is comprised of product from the U.S., Australia and New Zealand.
Change is coming ...
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