Record turn-off from Australian feedlots
An industry focus on a stable supply of beef has increased grainfed cattle turn-off. Additionally, increasing demand for long-fed programs has further reinforced this grainfed beef production.
Australia has been exporting more beef than ever, largely thanks to the elevated turn-off of grassfed product. However, the influence of feedlots cannot be ignored, with the grainfed sector reaching similar records. In 2024, Australia exported 375,195 tonnes of grainfed beef into a changing global market – 18% above the record set in the previous year.
Market share
For the first time in a quarter, China became Australia’s largest market for grainfed beef, importing 28,624 tonnes (29% of the grainfed trade). An unexpected 22% reduction of grainfed beef to Japan was recorded, with the market taking 25,249 tonnes or 25% of trade. Despite the reduction, Japan remained our second-largest market. Korea remained stable, with a subtle lift in volumes to 24,498, sticking to 21% market share.
Significant growth was seen across the United States (US) as the fourth largest Australian grainfed beef market since July 2023. With a dramatic reduction in US domestic supply, grainfed exports have lifted more than 220% in the last two years, reaching 4,947 tonnes over the quarter.
Record export volumes can be explained by the significant investment, enthusiasm and domestic preference for production stability fuelling expansion. Analysing data from the most recent Australian Lot Feeders Association (ALFA) and Meat & Livestock Australia (MLA) quarterly survey data (2024 Q4), we can see just how much this sector has shifted.
A shift in the sector
The Q4 2024 results show the Australian lot feeding sector had a built capacity of 1.66 million head. A total of 87.5% of this built capacity was utilised into the fourth quarter, making the quarter the largest for the number of cattle on feed when surveyed at 1.45 million head filling pens.
Grainfed export volumes are growing faster than turn-off, signalling a shift towards longer-fed programs that produce larger carcases. The sector is well-positioned to meet global needs as the demand for Australian grainfed beef rises. Additionally, grainfed production stability guarantees a stable and consistent supply.
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