Australia’s beef export program delivered its second-highest monthly total on record in March 2026, with broad-based demand across key markets driving volumes well above historical norms.

Total exports up 33% year on year

Total Australian beef exports reached 149,973 tonnes in March, a 33% increase compared with the same month last year and 58% above the five-year average. The result reflects both elevated domestic cattle availability and strong global demand across the industry’s key markets.

The US: structurally reliant on Australian supply

The United States remained the largest single destination for Australian beef in March, with 42,043 tonnes shipped. Volumes were 30% higher year on year and 110% above the five-year average. The US is not simply absorbing incremental volumes but is structurally reliant on imported beef to fill production shortfalls during a period of historically tight domestic cattle supply.

China leads year-on-year growth; quota dynamics to watch

China recorded the strongest year-on-year growth among major destinations, with 32,907 tonnes shipped in March, up 62% compared with the prior year and 93% above the five-year average. Importers have been actively securing product early in the calendar year. By the end of March, approximately 51% of China’s annual safeguard quota had already been utilised, leaving 49% remaining for the rest of the year. This front-loading may influence the pace of shipments later in 2026 as quota constraints begin to tighten.

Japan steady; South Korea a standout

Japan shipped 23,861 tonnes in March, 27% higher than the prior year but 19% above the five-year average, reflecting consistent rather than exceptional growth. South Korea was a standout, with 25,543 tonnes exported, up 56% year on year and 60% above the five-year average.

Processor margins improved modestly to close 2025

The Beef Processor Trading Conditions index rose from 8% in November to 16% in December, driven by easing livestock input costs and stronger export values across major destinations. Despite the late-year improvement, the 2025 average sat at 51%, well below the 85% recorded in 2024, reflecting the sustained impact of higher livestock prices on processor margins through the year.



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