August 3, 2007

Australian beef exports to South Korea down in Q2

Australia's beef shipments to South Korea were down 26 percent to 25,008 tonnes (slaughterweight) swt over the June quarter compared with the same period last year, due to the more downcast market this year, high stocks and the perking up of US beef, resuming stiff competition.

Exports in the second quarter of 2007 were chuck roll down at 16 percent to 5,589 tonnes swt, from the same period last year; blade at 3,667 tonnes, down 28 percent, and short rib at 4,464 tonnes, up 5 percent. Notably, exports of manufacturing beef were also dropped by 61 percent to 1,125 tonnes, and shin shank was down 70 percent to 1,099 tonnes swt compared with the second quarter in 2006.

Compared with 2006, there was some growth in the volume of chuck shipped at 1,047 tonnes (up 7 percent), and intercostals at 912 tonnes (up 41 percent).

Grainfed cut exports were also down by 12 percent to 7,542 tonnes; however, there was a 43 percent increase in chuck rolls to 1,505 tonnes, and a 65 percent increase in intercostals to 488 tonnes. Grainfed shin shank also notably fell by 65 percent to 771 tonnes and a 54 percent decline in thick flank/knuckle to 189 tonnes swt.