Red meat exports soften in Australia

With the 2021–22 financial year in the rear-view mirror, we’re starting to see emerging trends in red meat exports that bode well for the industry. As the herd and flock rebuilds begin to mature, exports are rising despite ongoing challenges from an unsettled global landscape. Australia exported 1.3 million tonnes of red meat in FY2022, 11% lower than FY2021. This drop was broadly consistent across our major markets – exports to Japan fell by 11%, China by 13%, South Korea by 9% and the US by 13%. This was primarily driven by falls in beef; FY2022 beef exports were 13% lower than FY2021, at 786,688 tonnes. Figure 1: Beef exports to top four markets Grainfed exports held up more strongly, falling by only 5% to 282,979 tonnes, while grassfed beef exports fell by 17% to 503,709 tonnes. Moreover, grainfed beef made up 36% of exports over the financial year, up 3% from FY2021 and a new record high. The emergence of grainfed beef as a mainstay of Australian exports has helped to ensure ...