skip to log on skip to main content
VoiceOver users please use the tab key when navigating expanded menus
Article related to:


The good news for beef

Head of FB&A Australia, ANZ Institutional

Published May 03, 2021

There is good news in Australian beef, despite some in the sector doing it hard.

A lot has been written about the record cattle prices we're seeing across the country. A key reason for that is the rebuilding phase of Australia is going through following a number of years of drought.

But the consequence of the restocking phase is less cattle coming to market. As a result, the processing industry is under capacity, which is tough for what is now Australia's largest manufacturing sector.


Compared to last year, we're seeing materially lower volumes going to Australia’s traditional beef export markets of the US, China, Korea and Japan. At the same time, we're seeing competition - particularly from North and South American countries - muscling into those markets.

You can bet even when Australia’s volumes return back to normal, those countries will be working hard to defend the access they've gained there.

But there is good news. Demand for beef globally remains strong, notwithstanding the impact of pandemic. And here in Australia, we continue to produce a product the world wants. So the outlook is really positive.

On top of that, we see emerging opportunities in new markets that we at ANZ encourage the industry to focus on. If the last 12 months has taught us anything, it's that in a world of pandemics, geopolitical tensions, tariffs and trade barriers, it pays to have a diversified customer base.

On top of those traditional markets for Australian beef, we see opportunities emerging in places like the Middle East, Indonesia, the Philippines and Vietnam, and believe the sector will be looking towards these regions in the future.

Ian Hanrahan is Head of FB&A Australia at ANZ Institutional

The good news for beef
Ian Hanrahan
Head of FB&A Australia, ANZ Institutional

Related articles

  • New Zealand

    Why the RBNZ could hike

    Staff Writer ANZ Insights

    Sticky inflation means ANZ Research is now forecasting rate hikes in both February and April, Sharon Zollner told the 5 in 5 with ANZ podcast.

    2024-02-13 00:00

This publication is published by Australia and New Zealand Banking Group Limited ABN 11 005 357 522 (“ANZBGL”) in Australia. This publication is intended as thought-leadership material. It is not published with the intention of providing any direct or indirect recommendations relating to any financial product, asset class or trading strategy. The information in this publication is not intended to influence any person to make a decision in relation to a financial product or class of financial products. It is general in nature and does not take account of the circumstances of any individual or class of individuals. Nothing in this publication constitutes a recommendation, solicitation or offer by ANZBGL or its branches or subsidiaries (collectively “ANZ”) to you to acquire a product or service, or an offer by ANZ to provide you with other products or services. All information contained in this publication is based on information available at the time of publication. While this publication has been prepared in good faith, no representation, warranty, assurance or undertaking is or will be made, and no responsibility or liability is or will be accepted by ANZ in relation to the accuracy or completeness of this publication or the use of information contained in this publication. ANZ does not provide any financial, investment, legal or taxation advice in connection with this publication.