June 8, 2007

Australia exports record chilled beef shipments to US

Australia has shipped its highly monthly tonnage since June 2005 of 32,715 tonnes slaughterweight (swt) of beef to the US in May, 18 percent above May 2006. Although the increase was mainly supply related, US beef demand for grinding beef appears to be resilient despite higher gasoline prices and lower disposable incomes.

Chilled beef exports during May reached the highest level on record at 4,571 tonnes, surpassing growth expectations. Following last year's record tonnage of 33,542 tonnes, exports have continued to soar as this year's first five months have reached 16,327 tonnes of chilled beef exports - 50 percent higher than the same period in 2006.