The Australian beef industry has ramped up its beef exports to the UK already, with Australian beef imports into the UK almost quadrupling for the first month of the free trade deal.

The trade deal, which came into effect on 1 June, has seen 384t imported in June 2023 compared with just under 80t for June 2022.

The new trade deal will see tariff-free access for 20,000t of Australian beef per calendar year rising to 110,000 tariff-free tonnes by 2033.

Prediction

Meat and Livestock Australia predicts beef production will grow by 37% from 2022 to 2025 on the back of increased animal numbers.

JBS, one of the world’s largest meat processing companies, is targeting the UK market with loins and hindquarter cuts.

Brent Eastwood chief executive of JBS Australia said “JBS is well placed to meet the rising demand for prime cuts and a variety of premium beef products, with the new agreement allowing us to provide even more Australian produce for consumers. We look forward to increasing trading opportunities underpinned by the free trade agreement and further strengthening our ties with our partners and customers in the UK.”

Cuts

Back home, the cuts continue to beef quotes with bullocks now working off €4.85/kg, while heifers are being quoted at €4.90/kg.

P+3 cows have slipped to €3.80/kg with factories citing poor demand in Europe as to why the cuts are taking place. Increased competition from Australia and other countries will also put pressure on Irish exports to the UK.