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Courtesy of EP3

Beef Export Summary April 2024

April 2024 beef export volumes from Australia remain solid with 105,367 tonnes swt reported as sent offshore for the month. The strength in total beef exports attributable to strong demand from the USA, South Korea and other destinations outside of the top four beef trading nations. April saw a slight 1% easing in volumes from March’s beef trade figures, but the March result was representative of very firm global demand for Aussie beef so a small easing isn’t anything to worry about.

Compared to the volumes sent during April 2023 the current beef export levels from Australia are running 46% higher and even compared to the five-year average trend in trade volumes for April Australian beef exports are nearly 33% higher so it’s a pleasing result to see demand so strong.

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

  • USA – As already noted above the trade to the USA is exceptionally firm this year with 27,224 tonnes of beef exported for the month from Australia. This is the strongest monthly result since December 2023 and the best April result since 2015. Compared to April 2023 the current flows are 117% stronger and 90% better than the April average flows, based on the last five years of the trade.
  • Japan – Mostly trekked sideways over April with a moderate 3% lift in exports from Australia. There was 21,731 tonnes of beef product shipped from Australia to Japan over the month, representing a 43% increase on the levels seen in April 2023 and 16% higher than the five-year average volumes usually seen during April.
  • China – Beef export flows to China remain below the average trend with 14,888 reported for April. This is nearly 10% down on the flows seen in March 2024. It is also 11% lower than April 2023 and 11% below the five-year average levels seen during April.
  • South Korea – Beef export volumes lifted by nearly 6% from March to April to see 15,785 tonnes swt traded to South Korea. These levels represent trade flows that sit a comfortable 19% above the April average pattern, based on the last five-years of the trade.
  • The Others – The beef export trade from Australia to the other destinations (those that are outside of the top four locations listed above) was a real jack in the box surprise for April frills month. The beef flows to other destinations were reported at 25,739 tonnes, which is 56% above the five-year average flows for April. The contrast from April 2023 to April 2024 is rather stark too with beef exports now running 84% higher than last year, a sharp reflection on how much more competitive the cost of Aussie beef is nowadays on the global stage.