WITH many of Australian beef’s largest destinations still well in the grip of COVID, and tightening supply of cattle at home putting a hefty price tag on product, the demand outlook could not be described as anything other than volatile.
However, there are some solid fundamentals in place that suggest the outlook is not all doom and gloom.
Global beef consumption is still forecast to grow, Australia enjoys a reputation for safe, high quality, consistent beef and a key lesson from last year was that stable, well-established markets shine through in times of turbulence.
Japan last year regained the crown, from China, as Australia’s major beef export customer, having taken only 6 per cent less volume than the previous year. It was an outcome…