Beef exports are on the up-and-up, with the Bendigo Bank Agribusiness’ Monthly Commodity Update, released this week, reporting higher than expected beef export volumes in early May, and heralds the possible breaking of the previous monthly export record for cattle, set in October 2024.
Senior Manager Industry Affairs, Bendigo Bank Agribusiness, Neil Burgess said that with more days available for processing centres to work and high export demand, May is looking like a bumper month for cattle.
“Export demand for Australian beef remains extremely high, particularly from the US and China, and we’re seeing prices up 20 per cent year on year,” Mr Burgess said.
“The record still sits with October 2024 which saw over 130,000 tonnes for beef export volume, but with April sitting at 127,000 tonnes – the fourth highest monthly total on record – and no cooling of demand in sight, May could get close to, or take, the record.
“But, we are seeing processing centres in northern states now mostly booked out well into June, so reduced buying from processors could in turn lead to a slight downwards shift for cattle.”
Other key insights for Australian primary producers, to be attributed to Senior Manager Industry Affairs, Bendigo Bank Agribusiness, Neil Burgess:
– Cropping – “Patchy seeding conditions and a dry May outlook are testing grower sentiment. Local markets are generally holding but global pressure is building as US crop prospects improve.”
– Dairy – “Opening farmgate price offerings are due to be announced on 1 June. Current expectations are for bids to open around $8.70 to $8.90, though this could push higher through the season, particularly if dry conditions continue.”
– Horticulture – “Fruit and vegetable prices have begun to ease from the highs seen in March as supply out of Queensland improves.”
– Sheep – “Australian sheep and lamb markets have lifted over the past few weeks following the announcement of increased access to the Chinese market.”
– Wool – “Wool markets have eased in their return from the Easter recess, facing
