The Australian Beef industry and cattle herd are well positioned to capitalize on changing global supply dynamics in 2023. This will be a year of transition and maturity for Australia’s cattle herd, according to the latest Cattle Industry Projections update from Meat & Livestock Australia (MLA).
Overall, the cattle herd in 2023 will grow to its highest level since 2014, reaching 28.8 million heads, an increase of 4.5% year-on-year.
By 2025, the national herd is expected to reach its highest level since the 1970s, at 29.6 million heads. This continued growth is due to strong female reproductive performance, genetic improvements across the herd and good farm management.
The MLA also estimates a growth in beef exports of around 41% between 2022 and 2025, reaching 1.7 million tons.
Input prices and cost of production will be major factors affecting the ability of the sector to remain productive and efficient.