AgriCast Episode 15: December 5, 2024 | Beef market trends and US supply shortages - video Dailymotion

Shan Goodwin, ACM's national beef writer, highlights the optimism in Australia's beef sector, driven by favourable weather and global market shifts.

Transcript

00:00Jess Hi welcome to AgriCast by ACM and we're taking

00:11a look at the latest news in the beef industry and Shan Goodwin is with us, the National

00:16Beef Writer. So what's high on the agenda for those in the beef industry at the moment?

00:20Shan Well the market and the weather are always

00:22the top conversation topics for those in cattle and we've had fantastic rain that's been received

00:28across big stretches of cattle country in New South Wales and Queensland and even pushing

00:34into the southern states in the past week and that's seen key indicators shoot up. But

00:39it's probably the dynamics sitting behind the global markets for beef that is providing

00:44the most fodder for optimism right now. Recently there was a big producer day held near Tamworth

00:51that was hosted by the Peak Industry Council Cattle Australia. There were around 500 people

00:56that attended that day. They came from properties all over Australia and certainly what's going

01:01on in beef export markets was well and truly unpacked.

01:04Jess Yeah what's happening overseas because it's

01:07not looking good for people in the beef industry overseas in some parts but that might be good

01:12for us.

01:13Shan Yeah well the US is the big one for us. Their

01:15ranches have been liquidating for years now due to drought and their cow calf numbers

01:20are at low levels, extremely low levels, which means as they start to rebuild their beef

01:24supply will stay low. That means there's a big gap for Australian beef to fill both

01:29in the US itself where burgers are a massive part of the diet but also in some other very

01:34lucrative markets like Japan and China where US and Australian beef have traditionally

01:40gone head to head. But of course Trump and his tariffs is the big unknown. He's just

01:44indicated he will slap 25 percent on Mexico and Canada. Both those countries are big suppliers

01:50of beef and live cattle to the US. Just a wait and see as to how Australian beef will

01:56fare under Trump.

01:57Jess Shan Goodwin, thank you so much for your insight.