Total beef exports reached just 854,592 tons in 2022; the lowest they have been since 2003, when mad cow disease caused a substantial reduction in exports to Asian markets.
A Meat and Livestock Australia spokesperson told Guardian Australia the decline was due to low slaughter numbers and not decreased demand. They predicted exports would lift in 2023 as the national cattle herd was rebuilt.
The Australian agriculture department in its December commodities report forecast a 5% reduction in beef export volumes in 2022-2023 compared with 2021-2022 due to high cattle prices, wet conditions and a limited capacity at processing facilities due to labor shortages.
Rabobank’s animal proteins analyst, Angus Gidley-Baird, said forecasts suggested there would be a substantial increase in beef exports in the second half of 2023 as the reconstruction cycle came to fruition.
Source: The Guardian