Beef easing

Livestock | 2nd August 2022 | By Matt Dalgleish

The Snapshot

  • Total Australian beef export volumes for July 2022 eased 6% from June.
  • Australian beef export flows to Japan are off the boil, easing nearly 18% over the month.
  • Some positive news for beef exports to South Korea, with volumes up nearly 7% from June to July.
  • There was a 10% drop in the Aussie beef trade to China over July.
  • Meanwhile, there was an 8% gain in Aussie beef trade volumes to the USA over July.

The Detail

Total beef export volumes for July 2022 eased 6% from June to see 74,949 tonnes swt of beef exports consigned. This is the third successive month of trade volume declines and current beef export levels are running 22% under the five-year average for July.

Australian export flows to Japan are off the boil, easing nearly 18% over the month to 18,551 tonnes swt. Back in May beef trade volumes to Japan were nearing the five-year seasonal trend but current volumes are nearly 29% below the average trend for July.

Some positive news for beef exports to South Korea, with volumes up nearly 7% from June to July. South Korea saw 15,012 tonnes of Australian beef exported in July, which represent levels that are almost 5% higher than the average level for July, according to the five year trend.

Beef export flows from Australia to China continues to mirror the 2021 pattern. July 2022 saw 12,533 toness exported, just 254 tonnes above the July 2021 volumes. There was a 10% drop in the beef trade to China over July and current trade volumes are sitting nearly 18% under the five-year average for July.

Not unlike China, the Australian beef trade to the USA so far this year is also reflecting the pattern set in 2021. There was an 8% gain in Aussie beef trade volumes over July to see 11,756 tonnes shipped. While the increase in volumes is welcome it still represents levels that are 45% under the July average level, according to the five-year seasonal pattern.

Tags

  • Beef
  • Cattle
  • Exports
  • Trade