Australia: Livestock and Products Semi-Annual

The Australian cattle industry is expected to continue its strong herd rebuild in 2023 and Australian beef supply is expected to recover after falling to the lowest level in twenty-five years in 2021 and in 2022. With the support of increased female slaughter, it is expected that overall cattle slaughter, beef production, and beef exports will all rise in 2023. The live cattle export trade is also forecast to increase in 2023 as a result of improved trading conditions with Australia’s major trade partner. Australian pork production is forecast to decline slightly in 2023 after stronger than expected production in 2022. Pork producers in early 2023 are being challenged by high feed grain prices relative to pork prices which is anticipated to have an impact on slaughter numbers and pork production in the latter part of 2023. Australian pork imports and exports are forecast to remain stable for 2023.