Since the start of 2025, Australia’s beef competitiveness in global markets has increased in both price and volume, which has seen Australia backfilling US product across the globe, particularly in markets such as Korea, China and Japan.
The latest export data shows US chilled global grainfed export volumes continuing to fall, with this year’s FH 2026 volume down 26% compared to four years ago, FH 2021.
Australia’s backfilling role has not subsided, and if anything, it has increased.
Price spreads between Australian and US beef prices have narrowed significantly since last year, with US prices globally trading at a 6% price spread compared to a 14% last year. Australia’s export values have risen to close this gap, while US prices, for the most part, have remained steady or slightly higher.
It would be expected that Australia’s export pricing in many key markets will be trading at parity with the US within six months, as US supply tightens and Australia fills the void, given the current global price rise.
~Simon Quilty
