February 27, 2007

Australia beef exports may increase in 2007

Beef exports for 2007 are forecast to increase at 1,495 metric tonnes due to high production and slaughter despite extreme drought conditions.

The outlook for pasture conditions is described as "difficult" in the short term, with significant improvements not expected until the second half of 2007. 

But despite prolonged drought conditions, prices have remained high, keeping cattle numbers at historically high levels. Near record cattle-on-feed numbers indicate strong exports to Australia's two primary grain fed markets, Japan and Korea.  Exports of beef to Japan remained fairly steady in 2006; exports to Korea increased 20 percent and now represent 16 percent of total Australian beef exports.

For full USDA report, please click here