Strong start for beef exports

The 2024 season has opened in fine fashion for Aussie beef export flows with total beef export volumes at 75,585 tonnes swt.

This represents the strongest opening to the year since 2020 and is nearly 30% above the average January export volumes based on the last five-years of trade.

Compared to January 2023 the current export levels are nearly 47% higher with all four top trade destinations registering opening volumes above their respective five-year average levels for January.

A summary for the top four beef export destinations is outlined below.

USA

January 2024 saw 20,308 tonnes of Aussie beef exported to America, the best January result since 2015.

Compared to the five-year average trend for January the current Aussie beef export volumes to the USA are 95% higher and are a significant turn around from the 2023 opening result when just 8,953 tonnes were reported shipped to the USA from Australia.

Japan

After a promising end to 2023 the beef trade from Australia to Japan has opened the year in equally fine form.

There was 16,331 tonnes of Aussie beef exported to Japan during January, which was the best opening result since January 2020 when 18,312 tonnes were reported shipped.

The January 2024 result comes in 13% above the five-year January average volumes for Aussie beef exported to Japan and is nearly 37% better than the volumes sent during January 2023.

China

Recorded 14,100 tonnes swt of Aussie beef shipped over January 2024, which is a 34% lift on the January 2023 flows and represents beef trade levels that are 14% higher than the five-year January average.

This is the strongest start to the season for Aussie beef flows to China since 2020 when 21,026 tonnes were shipped.

South Korea

January 2023 saw the best opening for Aussie beef exports to South Korea since 2007, which was at the tail end of the BSE ban for US beef into South Korea and the only real option for beef exports into the country was from Australia.

There was 11,682 tonnes reported shipped to South Korea from Australia during January 2024, nearly 23% higher than the average for January based on the past five years of trade and 15% better than the flows reported during January 2023.