What is the price of beef per kilogram/pound in Australia today?
The retail price range for Australia beef is between US$ 7.73 and US$ 29.96 per kilogram or between US$ 3.51 and US$ 13.59 per pound(lb). Click here to see today's exact prices of beef in Australia
The retail price range in Australian Dollar for beef is between AUD 11.63 and AUD 45.07 per kilogram or between AUD 5.27 and AUD 20.44 per pound(lb) in Canberra and Melbourne.
Wholesale prices
In 2024, the approximate wholesale price range for Australia beef is between US$ 5.41 and US$ 20.97 per kilogram or between US$ 2.45 and US$ 9.51 per pound(lb).
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Australia Beef Export Prices - Historical, Trends and Prediction
The export price per kilogram of Beef from Australia has seen a steady increase over the last five years. In 2017, the export price was 5.15 US $ per kg, and in 2018 it had fallen to 4.50 US $ per kg. The second highest price was recorded in 2021 at 5.61 US $ per kg. The 2022 export price was the highest at 6.24 US $ per kg. Based on the current trend, it is predicted that the export price for 2023 will be around 7.80 US $ per kg and for 2024 it will be around 8.40 US $ per kg.
The exports of beef from Australia are classified as:
- Frozen edible bovine livers (HS code 020622)
- Fresh or chilled edible offal of bovine animals (HS code 020610)
- Frozen edible bovine offal (excluding tongues and livers) (HS code 020629)
- Fresh or chilled bovine meat, boneless (HS code 020130)
- Frozen bovine carcases and half-carcases (HS code 020210)
- Frozen, boneless meat of bovine animals (HS code 020230)
- Carcases or half-carcases of bovine animals, fresh or chilled (HS code 020110)
- Fresh or chilled bovine cuts, with bone in (excluding carcases and 1/2 carcases) (HS code 020120)
- Frozen bovine cuts, with bone in (excluding carcases and half-carcases) (HS code 020220)
- Frozen edible bovine tongues (HS code 020621)
Australia Beef Import Prices - Historical, Trends and Prediction
The import price per kilogram of Beef into Australia over the last five years has seen a steady increase. In 2016, the price was $5.00, while in 2020 it had risen to $5.62. This trend continued in 2021, with the price reaching $6.61, and in 2022 it further increased to $7.20. Based on this trend, it is likely that the import price per kilogram of Beef into Australia in 2023 will be around $7.90, and in 2024 it could reach $8.60.Export values for Australia beef
The total values in export for beef in Australia were US$ 6,033,015, US$ 6,269,070, US$ 7,105,313 and US$ 8,236,213 in US dollar thousand for the years 2016, 2017, 2018 and 2019 in that order.
Prices of other produce in the Meat category in Australia: Pork, Mutton, Goat Meat, Horse Meat, Chicken Meat, Turkey Meat, Duck Meat, Geese Meat, Guinea Fowls Meat & Rabbit Meat.
See prices of beef in other countries across Oceania: Fiji beef, French Polynesia beef, Guam beef, Micronesia beef, New Caledonia beef, Papua New Guinea beef, Samoa beef, Solomon Islands beef, Tonga beef & Vanuatu beef.
Australia beef - Production, Exports, Imports, Seasons and HS Codes
The quantity of beef sold by Australia in 2020 was 1,319,822 tonnes. In 2019 Australia exported 1,519,659 tonnes of beef. For the year 2019 alone, the interest in Australia beef (meat category) has gone up, with a change of 10.98 percent compared to the year 2018. Between 2017 and 2019, beef's exports increased by 24.89 percent earning the nation US$8,236.21m for the year 2019. Australia's beef exports are classified as:
- Frozen edible bovine tongues (HS code 020621)
- Frozen edible bovine livers (HS code 020622)
- Frozen edible bovine offal (excluding tongues and livers) (HS code 020629)
- Fresh or chilled edible offal of bovine animals (HS code 020610)
- Frozen bovine carcases and half-carcases (HS code 020210)
- Frozen bovine cuts, with bone in (excluding carcases and half-carcases) (HS code 020220)
- Carcases or half-carcases of bovine animals, fresh or chilled (HS code 020110)
- Frozen, boneless meat of bovine animals (HS code 020230)
- Fresh or chilled bovine cuts, with bone in (excluding carcases and 1/2 carcases) (HS code 020120)
- Fresh or chilled bovine meat, boneless (HS code 020130)
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Australia beef export values
In 2019, Australia shipped beef worth 8,236.21m USD, an improvement of 15.92% from 2018's total beef export of 7105.313m USD. The yearly increase in value of Australia beef between 2017 to 2018 was 13.339 percent.
The annual change in the amount of Australia's beef exports between 2017 and 2019 was 24.89 per cent compared to a variation of 10.98% in the period between 2018 and 2019.
Export markets for Australia beef ( in '000$ )
Australia's best performing destinations for beef are Malaysia, Indonesia, US, Japan and Slovenia.
Australia ordered 2,381 tonnes of beef in 2019.
Grainfed beef considered world's best beef
Grainfed beef from Australia is the real deal when it comes to choosing bovine animal meat. This is because due to consistency of raising cattle under high nutrition regimen, the meat quality gains good fat and attains rich color. It is no wonder then that most meat aficionados regard it as one of the best globally.
Grain feeding in Australia usually boasts three regimes: cattle fed for no more than 150 days, those fed for between 150 and 200 days, as well as those from long regimes of 200 days and beyond.
Best beef cuts in Australia
Not all parts come equal. For instance, the rump cuts cost more than flank cuts because they are tenderer and smaller in surface area distribution.
1. Beef fillet steak or eye fillet
Current Price: A$24.99 ($16.48) to A$45.99 ($31.48) Per KG
As one of the premium cuts, the eye fillet is among the most mouth-watering cuts. It comes from the hind quarters, just under the backbone. It is a fine slab of boneless meat and is quite tender as its muscles are rarely under stress when the animal is moving.
2. Beef Mince
Current Price: A$11.00 ($7.25) to A$26.58 ($18.18) Per KG
Any part of the animal that is ground into fine particles can make up the beef mince. Ground beef is easy to chew since it passes under a meat grinder or chopping knife before sale. Because of its universal availability, it fetches relatively lower prices than the lesser available cuts.
3. Beef Barbeque Round
Current Price: A$19.99 ($12.79) to A$29.99 ($20.52) Per KG
Australians love the beef round, which is steak from the hind leg of cattle. From here comes such prime cuts as the eye round. Its solid mass makes it a good barbeque-making companion hence the choice as BBQ steak. It makes stews and casseroles as well.
4. Rump Steak
Current Price: A$20.99 ($13.85) to A$39.99 ($27.36) Per KG
Rump steak is the slab from the upper back flank of the cow. Taking the first position in terms of great flavour, this is usually a traditional favourite in Australian restaurants. It rivals an eye fillet in leanness and outshines it in firmness and flavour. Why, it is even way cheaper than its rival and so anyone can afford it!
Australia is home to 24.4 million head of cattle (June, 2022 figures), according to the Australian Bureau of Statistics' 2023 report. In 2022, the country reached a capacity of 1.87 million metric tonnes in beef/veal production. Of this figure, 854,000 tonnes went into export, though 4% lower than in 2021.
There were about 2.7 million of the highly prized grainfed cattle in the Australian market in 2022.
Significant Rainfall Improves Australia Beef Supply in 2024
Australia has received significant rainfall return in 2024 after a 2023 drought scare. According to Rural Bank, beef cattle prices were already down by 5.7% in April compared to prices in March 2024. The lowest cattle price in 2024 so far at the farm gate has been 600 Australian cents ($0.39) per kg and this is likely to bring down the cost of red meat at retail stores across Australia.
The situation remained pretty much the same in late 2024 as in April. According to Rural Bank, high yard supplies in September 2024 saw a decrease in prices of young cattle by 4.7% on the Eastern Young Cattle Indicator (EYCI) stocks. Meanwhile, expectations of rain in October 2024 was likely to drive prices up. Because rain prompts ranchers to restock, supplies ebb and market pressure eases for a while.