00:00The June beef export figures for Australia have come through.
00:03We've seen a big drop in Chinese demand through June now that that Safeguard tariff has been
00:08hit and Australian product attracts a 55% tariff.
00:11So if we compare this June to last June for China, flows it down 71%.
00:17Big drop.
00:19However, the US are fairly strong still.
00:22US June figures this June are 40% higher than last June, so continuing to see very good
00:28demand out of the US.
00:30And South Korea is the other market that's been exceptional.
00:33The June flows for this year are 69% higher to South Korea than what they were this time
00:39last year.
00:40And South Korea has actually replaced China as of this month as the second top destination
00:45for Australian beef exports.
00:48So broadly speaking, not a bad result.
00:50We are getting close to hitting the Safeguard tariff for South Korea though.
00:55Possibly the next month we might hit that and that could take a bit more sting out of
00:58this market.
00:59But we'll just see how things play out because some of the other markets are still firing
01:02pretty well.
01:04See you when you've got nothing on.
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