New Zealand: Aussie beef to stiffen export competition

Published 2023년 2월 3일

Tridge summary

Australian beef exports are projected to exceed 1 million tonnes in 2023, a significant increase from the previous years due to the recovery of the cattle herd, expected to reach its highest level since 2014. This growth in Australian beef production is expected to increase competition for New Zealand in global beef markets. The success of Australian beef exports will depend on the capacity of its meat processors to handle the increased supply, particularly with ongoing labour shortages. The United States, a key market for both New Zealand and Australian beef, is expected to return to being a net importer of beef following two years of high slaughter and beef production due to improved weather conditions and herd rebuilding.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

New Zealand beef exports have been enjoying less competition from across the Tasman for the past two years as Australian producers concentrated on rebuilding their beef herd amid favourable conditions. But, while overseas demand for beef remains positive, a lift in export competition from Australia is inevitable with likely implications for NZ beef. Australia’s rebuild has been so successful, its national cattle herd is forecast to reach its highest level since 2014, inflating to 28.8 million head by June 30. Only three years ago herd numbers were down as low as 24.6 million head. Ultimately this leads to increased beef production and therefore higher availability of Australian beef in global markets. Meat and Livestock Australia (MLA) is projecting that 2023 Australian beef exports will push over 1 million tonnes. This follows two low years through the herd rebuilding phase, when exports struggled to reach 900,000t. It’s no coincidence that through that period of low Australian ...

Source: Farmersweekly