Strong demand from the US for Australian beef has seen exports rise 72% from 2022 levels, driven in part by demand for lean cow trimmings. Although easing this year, cow prices have outperformed the market relative to changes in the cattle market overall.
Since the start of 2023, the processor cow indicator has eased by 28%, compared to a 36% decline in cattle prices overall. The difference can be partially explained by the strong demand for Australian trimmings in the US, which is likely continue to support Australian cow prices relative to the market overall.
More on this story here.