Australian beef, veal exports to US to drop slightly in 2014
Australian exports of beef and veal to the United States in 2014 are expected to drop 1 percent from last year's levels and reach 210,000 tons swt, according to industry research company Meat and Livestock Australia (MLA).
The latest predictions are in line with the anticipated slight fall in overall production of beef and veal in Australia for this year. Meanwhile, Australian meat producers are likely to focus their attention on other key markets that are expected to see strong growth in demand in 2014, namely China, Indonesia and the Middle East, MLA said.
Beef will still account for the largest proportion of Australian meat exports to the United States. Lean beef will continue to represent the bulk of beef exports but other products are also predicted to hold a significant share of exports, including thin flank, insides and outsides.
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Meanwhile, other types of cuts such as shin or shank are likely to be directed towards emerging markets like China and Indonesia. According to MLA, high-value loin cuts are set to maintain a steady volume as they play a key role in the developing grassfed, natural and organic sectors.
U.S. domestic supply of beef is anticipated to remain low in 2014. The U.S. Department of Agriculture expects beef production to go down 6 percent to 10.979 million tons cwt, with this decrease reflected in export volumes as well. Overall, U.S. beef exports are forecast to fall 8 percent this year to 1.027 million tons cwt.