Shifting US cattle numbers could be positive for Australia
In figures released by the USDA and as reported by red meat promotions body Meat and Livestock Australia (MLA), the female slaughter rate in the US reached 51.5% in 2023, with an overall decrease of 28% year-to-date. This suggests a decline in production that is likely to continue.
High cattle prices have encouraged producers to sell their cattle, and drought in some areas has made it challenging to fix pastures. Dairy cow slaughter has remained high, and this has significant implications for Australian exports. The reduced supply of US beef is expected to boost demand for Australian beef in North Asia, particularly in Japan and South Korea. The prospects for manufacturing beef exports to the US remain optimistic, and demand in the US is expected to continue to rise.
