February insights,2024
Australia’s beef export market recorded the strongest start to the year since 2020, with total export volume of
75,585 tonnes for January.
Australian beef exports were 46.9 per cent greater when compared to the beginning of 2023, with the US importing over double this time last year.
Ongoing drought conditions and a significantly reduced herd in the US is expected to translate into further opportunities for Australian producers throughout 2024.
Additionally, the “Other Country Beef quota” which allowed 65,000 tonnes of tariff free exports of beef from Brazil to the US is set to expire in February. This is due to Brazil fulfilling just over 71 per cent of the total volume in January.
The tariff of 26.4 per cent for Brazilian exports to the US is likely to lead to a softening in export volume. This will provide further opportunities for Australian producers for the remainder of 2024
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