With US beef imports already down 10% in Q1 2016 compared to 2015 it is interesting to note that the USDA is expecting 2017 imports to decline by 12% from 2016.
Australia’s limited availability for export led to an 18% reduction to US in the first quarter, and that situation is only expected to continue to worsen as cattle supplies tighten even further.
US domestic herd numbers are also still recovering. We are sure there will be a large knock-on effect for beef producing countries with access to the US market, and also for countries looking to supply to Asian markets where Australia is strong (Japan, Korea, China, Philippines).