Australia: Livestock and Products Annual

In 2024, Australian beef supply has surged and is projected to reach the second-highest production level on record in 2025. This anticipated expansion follows a major turning point in 2024, with production estimated to increase by 14 percent from 2023 and 34 percent from the 2022 low. This recovery is driven by strong U.S. demand amid its own cattle supply shortage, resulting in heightened exports and making the U.S. Australia’s largest beef export market. As a result, beef exports are expected to set a new record in 2025. Meanwhile, Australian pork production is forecast to grow by two percent in 2025, continuing the robust growth trend seen over the past four years. Despite stable projections for pork imports and exports in 2025, the U.S. has reestablished itself as Australia’s primary source of pork imports in the first half of 2024.