The US Department of Agriculture has forecast a strong rebound in Australian beef production and exports in 2023, as the country continues to recover from severe drought in 2019-20.
The latest analysis suggests beef supply will make a substantial step towards recovery in 2023, after falling to the lowest level in decades, in 2021.
“The Australian cattle industry is expected to continue its strong herd rebuild in 2023, but with female slaughter rates rising,” the report said, which will contribute to larger beef production and exports.
Australian cattle producers have also had the added benefit of record cattle prices in recent years, which has boosted confidence to continue to push forward with the movement.
The USDA’s Foreign Agricultural Service estimates an increase in Australian adult cattle slaughter in 2023 to 7.2 million head, 890,000-head higher than the 2022 prediction of 6.31 million head.
Beef production in 2023 should increase by 13%, to 2.2 million tons carcass weight equivalent.
Australian beef exports in 2023, in its turn, are expected to rise to 1.5 million tons carcass weight, up 200,000 tons from the 2022 estimate.