Australian beef industry predicts windfall from US shortfalls
The US cattle herd has shrunk this year, with lower slaughter creating a shortfall in lean beef in the American market.
Industry body Meat and Livestock Australia said the fact the US herd is at its lowest level in decades has opened up opportunities for exporters.
From January to October, US cow slaughter declined 15% to total 4.7 million head. Heifer slaughter remained constant at 8.3 million head.
As well as creating demand for increased beef from overseas, if the US reduces its beef exports, this could also mean its traditional markets, such as Japan and China, will look elsewhere for product, it suggested.
Tim Jackson, MLA global supply analyst, said: “Although it is unclear when rebuilding will commence in the American cattle herd, it’s clear that movements in the herd will have global impacts. This could potentially reduce global supply and provide opportunities for Australian exporters.”
