00:00This week, episode three, has been looking at beef export flows for March.
00:04Total beef export flows are up 33% when we look at this March compared to last March.
00:09And when we look at the five-year average for March, total exports are up 58%,
00:13so a really strong start to March.
00:15When we look across the key destinations, the USA, they're up 30% from last March.
00:21China's up a whopping 62% from last March,
00:24and a lot of that is still a rush to get ahead of that Chinese safeguard tariff.
00:29As at the end of March now, we've used up 51% of our tariff.
00:33So we're only a third of the way through the year, and we're halfway through the tariff.
00:38So it's going to be interesting to see what happens when we hit that tariff
00:40and we get a 55% tariff on top of our beef exports to China.
00:45The China growth is really strong, though.
00:47When we compare the levels for China from March this year to the five-year average for March,
00:52the volumes are up 93%.
00:54Looking at Japan, they've had a good surge as well, 27% higher.
00:58This March compared to last March, and South Korea, very strong as well.
01:02They're 56% higher than March last year.
01:06So all those top four destinations are really strong for beef exports.
01:11Like I said, that's good for the farmers.
01:14Flowing back to the farm gate, good pricing.
01:16We're still seeing reasonably strong pricing.
01:17A little bit of a softening in the last kind of month.
01:21A bit of concern around the global picture and also costs of transport, like fuel costs
01:27are starting to bite in.
01:28So prices aren't able to pay as much for some of those cattle going to the slaughterhouse.
01:34But generally speaking, export markets are holding up pretty good, considering all the
01:38uncertainty in the globe.
01:40Let's just see how things play out, particularly once we get that quota with China, that safeguard
01:45quota, which is likely to happen around maybe the middle of the year.
01:50See you when you've got nothing on.
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