Herd rebuild boosts 2023 slaughter to 7 million head in Australia

Published Feb 29, 2024

Tridge summary

In 2023, total cattle slaughter increased by 20% to 7.028 million head, indicating the end of the herd growth phase. However, 2024 is expected to see a decrease in beef production by 3% due to a predicted decline in feedlot numbers and lower placements. Feeder cattle prices may rise, potentially increasing cattle imports to 2.05m head, but imports could be limited due to tighter supplies in Mexico and Canada. Beef exports are expected to decline, while beef imports could reach a record 4.13b pounds, 11% higher than 2023. US domestic 90CL has increased due to historically low levels of non-fed slaughter.

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

Original content

Herd rebuild boosts 2023 slaughter to 7m head ABS statistics released last week for the final quarter of 2023 confirm the step up in slaughterings that were indicated by MLA's weekly survey figures and reflect the impact of last year's August-October dry pinch on the female component of the kill. Total slaughter for 2023 was 7.028 million head, up by 20pc on the previous year's 5.8m. Female slaughter rate (FSR) for the year averaged 46.8pc which suggests the herd has likely concluded its growth phase for the time being and is neither increasing nor decreasing in size. (FSR above 47pc is indicative of herd liquidation/contraction, below 47pc with rebuild/expansion). Low FSRs of 45.1pc and 42.8pc in 2021 and 2022 respectively point to significant herd growth in those years and this for most part would have underpinned the increase in slaughterings in 2023. However, had it not been for the Q3 dry pinch, slaughterings may not have reached 7m. The Q3 dry pinch and the commentary at the ...

Source: Queenslandcountrylife