Based Underground is now a conservative news aggregator AND curated newsletter.
(The Epoch Times)—According to Meat and Livestock Australia (MLA), the United States was the top export destination for Australian beef in the first three months of 2024. Australian beef exports to the United States soared as American production fell, and this trend is expected to continue.
“Global beef exports from the U.S. are likely to place significant pressure on supply for the remainder of 2024,” the report (pdf) stated. “The continual decline in North American beef production, which has been ongoing since at least January 2023, has now begun to materially affect global markets this year.”
Demand from Japan, South Korea, and the United States may increase competition for beef for the remainder of the year. The report noted higher Australian production will partially offset the supply gap, but not enough to compensate for a decline in U.S. supply.
“The U.S. was the largest export market for Australia in Q1, as Australian beef makes up for shortfalls in dairy cow slaughter, and as American production falls, exports are set to continue rising,” the report said.
“At the same time, Australian market share for high-quality beef in Japan and Korea will continue lifting as U.S. exports fall, and strong Australian supply will go some way to making up the shortfall.”
China Has Seen a ‘Slowdown’
China’s economic performance will be a key question for the rest of the year. The report noted that China, the world’s largest beef importer, had seen a “slowdown in key economic indicators” and below-trend consumer sentiment.
“This has impacted import pricing and has markedly slowed import volume growth. If export volumes into China begin to decline materially, it would further accelerate the diversification of South American exports and likely put considerable pressure on cattle prices,” the report said.
Key Beef Export Stats
The report revealed that Australia produced 570,681 tonnes of beef and veal in the first quarter of 2024. This represented a staggering 15 percent increase over the first quarter of 2021 but 1 percent less than the previous quarter.
Australia’s domestic market was the largest, accounting for 28 percent of local production in quarter one of 2024. Australian exports to North America in the first quarter of 2024 surged by 86 percent compared to the prior corresponding quarter to 104,797 tonnes of carcass-weight equivalent (CWE).
Exports to Japan grew by 25 percent yearly to 85,581 tonnes, while China exports rose 9 percent to 73,569 tonnes. Conversely, South Korean exports dropped 8 percent to 53,612 tonnes.
Exports from Australia to all other markets jumped 17 percent compared to the first quarter of 2023.
Outlook ‘Positive’
MLA Global Supply Analyst Tim Jackson said overseas supply dynamics have a major impact on the Australian beef industry.
“Although a small part of global production, Australia is a major player in export markets. So far in 2024, the United States has emerged as the largest market for Australian beef,” he said.
He said long-running destocking in the United States had driven American production down.
“This has boosted demand for Australian beef in the United States, Japan, and South Korea, where the U.S. competes with Australia for imported share,” he said.
Mr. Jackson said the outlook for Australian exports is optimistic, pointing out supply shortages and Australia’s dollar.
“Alongside the decline in U.S. production, South American slaughter has been very high as drought conditions persist in key cattle-producing regions. As conditions normalize, production is likely to decline, further reducing the global beef supply,” he said. “Despite low consumer confidence, unemployment remains low in most advanced countries, and inflation has been falling in most of our export markets. At the same time, a weak Australian dollar has made Australian beef more competitive on the global market.”
US East Coast Popular for Beef and Veal Exports
Separate Australian red meat export statistics released by the Department of Agriculture, Fisheries and Forestry broke down Australian beef exports to the United States east coast, west coast, and Canada.
The red meat export figures updated July 15 show Australia exported 15.65 million kilograms of beef and veal to the east coast and 2.92 million kilograms to the west coast, making the United States the leading export market for beef and veal in kilograms. In addition, Australia sent 1.28 million kilograms of beef and veal to Canada.
Australia also exported 13.24 million kilograms of beef to Japan, 9.4 million to Korea, 1.83 million to Japan, 15.59 million to other Asia, 1.6 million to the Middle East, 0.57 million to the European Union, 0.028 million to Western Europe, and 0.68 million to other destinations.
Minister for Agriculture Murray Watt said in June that Australian meat is “hugely” desired for its quality, health, sustainability, and flavour.
“That’s why so many countries are stocking our product and why demand for it continues to grow,” he said.
Survival Beef on sale now. Freeze dried Ribeye, NY Strip, and Premium beef cubes. Promo code “jdr” at checkout for 25% off! SpreelyBeef.com
Mysterious “Skyquakes” Are Causing Strange “Booms” in the Sky, and Scientists Have No Explanation
by Michael Snyder
(End of the American Dream)—What is causing the extremely loud “booms” that people are hearing in the sky all over the world? We are being told that “skyquakes” are responsible, but scientists have no idea why these “skyquakes” are occurring. In some cases, the “skyquakes” cause such powerful shaking that…
The Biggest Sale on Long-Term Storage Beef EVER
by Sponsored Post
Let’s cut to the chase. Prepper All-Naturals is offering an unprecedented 40% off for it’s “Beef Steak” survival bags with promo code “steak40”. With a 25-year shelf life and a single ingredient (beef, of course), our most popular product is available for a very limited time with the biggest discount…
Seattle Is Ordered to Stop Blocking Illegal Alien Deportations in the Most Hilarious Court Decision Ever
by PJ Media
A federal court has just pooped in the oatmeal of the West Coast, Messed Coast™governors and local election officials suffering from acute cases of Trump Derangement Syndrome who think they can stop illegal alien deportations. And after this hilarious and thorough legal takedown from the 9th Circuit Court of Appeals,…
Illegal Alien Terror Suspect Found Dead in Cook County Jail Cell
by Slay News
An Islamic illegal alien has been found dead in his jail cell after being arrested on terrorism charges. According to CWBChicago, 22-year-old Sidi Mohamed Abdallahi was found dead at the Cook County jail in Illinois on Saturday. Abdallahi was arrested on felony terrorism and hate crime charges in October. He…
Trump’s Wild Bunch Is Ready for Action
by Frank Miele
If for no other reason than that it will elicit fear in the hearts of autocracy-phobics, I propose that Donald Trump’s second-term Cabinet be known as “The Wild Bunch.” The name is best known as the title of Sam Peckinpah’s classic 1969 western featuring a colorful cast of aging outlaws…
FAA Issues Flight Restrictions Over Questionable Drone Activity Near Trump’s Bedminster Golf Course
by Just The News
The Federal Aviation Administration (FAA) on Tuesday said that it has issued two flight restrictions on the area surrounding President-elect Donald Trump’s Bedminster golf club in New Jersey, following questionable drone activity. The drone sightings were first reported on Nov. 18, but have continued into this week, according to Fox…
Ex-FBI Agent Convicted for Stealing From Jan 6 Defendant During Raid
by Trending Politics
A former Houston-based FBI agent has been convicted of stealing valuables and cash while conducting searches. In one instance, the agent stole cash and silver bars from a non-violent January 6 defendant’s home. Nicholas Anthony Williams, 36, was indicted on January 31 in the Southern District of Texas. Williams, who…
Democrats, Media Elite Urge Biden to Pardon Trump’s Alleged ‘Enemies List’
by Breitbart
President Joe Biden should issue preemptive pardons to his political allies and those deemed to be on President-elect Donald Trump’s alleged “enemies list,” Democrats and their media allies believe. Delivering a preemptive pardon indicates an admission of guilt, although Democrats claim a preemptive pardon would only be intended to block…
Fani Willis Forced to Release All Communications With Jack Smith, J6 Committee
by Trending Politics
The Fulton County Superior Court has ruled against District Attorney Fani Willis, ordering her to disclose communications with Special Counsel Jack Smith and the House January 6 Committee. The decision, announced on Tuesday, follows a lawsuit brought by Judicial Watch, a conservative watchdog group, which accused Willis of violating Georgia’s…
Lindsey Graham Is the Warmongering NeoCon Leading the Charge to Upend Pete Hegseth
by JD Rucker
Pete Hegseth represents a shift away from the wokeness that has infected the United States military. This is possibly the biggest reason President-Elect Donald Trump tapped him to be the next Secretary of Defense and the vast majority of Republicans on Capitol Hill can support this, at least for the…
‘Where Are Black Democrats?’: Charles Payne Tells Personal Story to Call Out ‘Huge Double Standard’ of Biden Family
by Nicole Silverio, DCNF
(DCNF)—Fox Business host Charles Payne called out the alleged “huge double standard” of President Joe Biden’s family Tuesday by revealing that his brother, who struggles with a crack addiction, is currently serving a jail sentence. Payne said his brother, who is getting out of jail on Friday, is likely one…
Zelensky Admits Ukraine Can’t Retake All Its Land: ‘We Must Seek Diplomatic Means’
by Breitbart
Ukrainian President Volodymyr Zelensky conceded in an interview on Tuesday that Ukraine does not have “enough forces” to restore sovereignty over Russian-occupied Crimea and “must seek diplomatic means” to end the Russian invasion and regain its land. The state-run Ukrinform outlet reported that Zelensky described Crimea – which Russia colonized…
Ultra-Processed Foods: How Bad Are They for Your Health?
by Olivia Cook
(Natural News)—Despite the serious health risks associated with eating junk food, they remain the most consumed food products in many countries, particularly developed ones. But a review published in The BMJ, which studied 9.8 million people, warns that eating a lot of ultra-processed foods can increase your risk for 32 diseases. Among these are heart…
“Already Pretty Far Down the Line”: The Container Store Could File for Bankruptcy as Soon as Next Year
by Tyler Durden, Zero Hedge
(Zero Hedge)—As the retail apocalypse that started with Amazon and e-commerce continues, the latest victim is The Container Store. The retail giant could file for bankruptcy as soon as next year, according to the New York Post, who said the retailer is blaming its recent descent on “a weak housing…
Mysterious ‘Car-Sized Drones’ Over New Jersey Prompt FBI Investigation
by Zero Hedge
Several weeks of mysterious drone swarms over the skies of one New Jersey county near the military research and manufacturing facility Picatinny Arsenal have sparked concerns among residents and prompted an FBI investigation. “It’s kind of unsettling,” Mike Walsh, a Morris County resident who has spotted the drones on numerous…
UNESCO’s New Mission: Train Influencers About Combatting Online “Misinformation”
by Reclaim the Net
The UN Educational, Scientific and Cultural Organization (UNESCO) is now incorporating teaching influencers how to “fact check” into its activities. UNESCO claims that influencers have become “primary sources of news and cultural information” around the world – which prompted it to carry out a survey into how these online personalities…
