Improving weather, strong production and undersupplied export destinations are all supporting Aussie beef prices early 2025. 

In week 1 of January 2025, the government of Australia reported live beef up at A¢715 (US¢440) a kg.

Weekly prices rose by 8%, as of January 8, 2025, with yearly price growth up by 16% since January 2024. 

Although live cattle prices registered 0% weekly change by late 2024, their yearly growth at 17% paralleled that of fresh beef. By December 30, 2024, live cattle were selling at A¢350 (US¢217) per kg.

Aussie Beef actually ‘Underpriced”

Despite this positive trend, local beef could see better prices than currently, given the scarcity abroad.

That measure is the American market where a 5-decade cattle numbers low has made imported beef hit US¢299 a pound (A¢1065/kg) .

The implication is that the price abroad is now A¢300 (US¢186) more than it was in the corresponding January 2024.

This is why beef aficionados in Australia are estimating that local beef is underpriced by at least A¢50 a kg despite seeming high at face value. 

Hence, lean beef trimmings in the domestic market could be underpriced by maximum A¢100 (US¢62) a  kg, Beef Central reports.

The weekly American import market is turning aggressive, with U.S. lean beef import prices altering by A¢70 (US¢43) a kg in recent weeks. 

Cattle Farmers 2025 Champs

All in all, a positive wind is fanning across Australia’s ranches due to expectations that an increasingly beef undersupplied world favors them.

Besides comfort zone prices, 2024 trends such as the increase by 65% of Aussie beef exports to the United States are still playing out.

Finally, the only caution for Australia’s beef farmers are trade shocks. The most relatable is the surprise plummeting of prices by as much as US$3 between mid-2023 and end 2024. But as the following statistics point out, beef trade rarely fails Australia’s agricultural sector.  

Australia Beef Statistics 

Beef and red meat contribute 1.7% of key industry turnover in Australia, with earnings worth A$75.4 billion (US$46.7 billion), as of 2022. This according to Meat and Livestock Australia ( MLA) . The national government shows that beef/veal production is the top agricultural performer at $15.3 billion, as of 2020-21. Only wheat comes close in this same year at A$13.1 billion.

The contribution of beef to the national economy has grown by 49% per year between 2021 and 2023, paralleling rising prices.  Live cattle shipments also helped the growth by soaring 13% in 2023, to reach 661,392 head, year-on-year. 

In terms of exports, Australia supplies 12.6% of world beef by dollar value, with exports worth US$8 billion (2023). This is the second highest figure after Brazil.  The country also ranks third in fresh beef exports at US$3 billion or 10% of the global exports, as of 2023.

Do Australians themselves eat much beef? 

In 2023, Australia was third worldwide in beef consumption at 23.4 kg per person per year, according to MLA. Only Argentina and the United States consumed more beef that year.