Australia: Livestock and Products Annual

Australian beef supply is forecast to begin to recover in 2022 after falling to the lowest level in decades in 2021. Low female slaughter rates in 2021 marked the onset of a herd rebuild following a severe multi-year drought and this herd rebuild is set to continue into the forecast year. Cattle slaughter, beef production and beef exports are also expected to rise in 2022, although remain below pre-drought levels (and far below peaks reached during the drought). Most cattle producers have experienced great pasture conditions since the onset of drought-breaking rains in early 2020 and also benefited from record cattle prices, which has boosted confidence to forge ahead with a strong herd rebuild.