September 3, 2004

Australian Beef Exports To The US Soar

Australian beef exporters continue to capitalise on the favourable manufacturing beef prices in the US.  Beef exports in August totaled 37,101 tons sw - the second highest August shipments in the past 16 years. Exports to the US during August were also buoyed by relatively softer demand in other export markets.

The 22% year-on-year rise in August exports has lifted total exports to the US to 224,282 tons sw for the first eight months of 2004, on par with the same period last year.

US manufacturing import prices for Australian beef held at or near record levels during July and August. The latest record price of US 140.5 cents/lb CIF was recorded on 26 August 2004, which was up 37% above year ago levels. 

Chilled beef exports to the US for August totaled 2,808 tons sw, an increase of 37% on year ago levels and making up 8% of total beef exports for the month.  For the first time this year, chilled beef exports have exceeded year ago levels, reaching 15,054 tons sw for the eight months to August.