Australia: Livestock and Products Semi-Annual
Link to report:
The Australia beef industry is finally showing signs of entering a much-anticipated herd rebuilding phase. This has firmed FAS/Canberra’s 2021 forecasts of lower cattle slaughter, cattle exports, beef production, and beef exports. With a reduced breeding herd and more females expected to be retained for breeding in 2021, overall cattle slaughter is expected to fall for the second straight year. Beef production in 2021 is forecast to reach 2.075 metric tons (MT) carcass weight equivalent (CWE), down 2 percent from 2020 and the lowest level since 2003. This is expected to lead to another year of declining Australian exports in 2021, down five percent from 2020 to 1.4 million metric tons (MMT) (CWE). Pork production for 2021 has been revised upwards by FAS/Canberra to 425,000 MT (CWE), a one percent increase from the 2020 result of 419,000 MT (CWE). The improved forecast is due to reduced feed costs after the end of the drought, as well as strong pork prices.
