House of the fading sun.
Beef Export Summary September 2023
Department of Agriculture, Fisheries and Forestry (DAFF) beef export trade data for September 2023 has shown a marginal 3.5% decline in trade volumes from the levels set in August. There was a total of 98,713 tonnes swt of Aussie beef reported shipped offshore over September, which is 39% higher than the flows seen during September 2022 and nearly 18% above the September average volumes, according to the last five years of the trade.
In terms of market share over 2023, the USA has moved up from fourth position last year to hold top spot in 2023 with 20.5% of the total Aussie beef export trade. Japan has been ousted from top spot with consistently low beef export trade volumes from Australia seen this year and currently account for 20.2% of the trade in 2023. Meanwhile China and South Korea are battling it out for third and fourth place, sitting on 19.6% and 17.9%, respectively.
A summary for the top four beef export destinations is outlined below.
- USA – The price discount of Australian cattle to the USA continues to widen in 2023 and the much more competitive position of Australian beef exports this year has seen the trade to the US recover significantly, especially compared to last season. There was a slight 5% drop in beef export volumes to the USA from Australia over September to see 24,379 tonnes swt shipped during the month. However, compared to this time last year trade volumes are 185% higher. Compared to the five-year average for September the volumes are a little less impressive, but still strong with current export levels 54% above the average September trend.
- Japan – There was a further 3% decline in Aussie beef exports to Japan seen from August to September and the lowest month for beef exports reported since the April 2023 lull with 16,276 tonnes reported shipped to Japan during September 2023. This season saw similar beef export volumes as last September and current trade levels are sitting around 22% under the five-year average for September.
- China – There was an 11% increase in Australian beef exports to China during September to see 19,051 tonnes swt consigned. There has been much talk of Chinese meat storages being full but above average red meat export flows persist for mutton, lamb and beef to China so far this year. The beef exports volumes in September from Australia to China sit 20% above the five-year September average. Meanwhile lamb and mutton exports from Australia to China are running 48% and 37% above their respective five-year average September levels.
- South Korea – There was a 5% easing in beef export volumes to South Korea from Australia during September to see 16,463 tonnes reported shipped. While it was a softer outcome than August the current trade flows remain above the five-year September average by nearly 24%, so it isn’t too bad a result with the historic flows in mind. As the trend this season demonstrates the Aussie beef trade to South Korea remains positive and running above the average seasonal pattern.
