Australia's red meat exports rise as US beef production falls

Deliveries accelerated throughout the year, pushing lamb exports to a record level and beef exports to their highest level since 2019, the data showed.

Australia is one of the world's largest suppliers of red MEAT. Its exports are likely to be even higher in 2024 , thanks to low U.S. beef production and strong demand in CHINA, said Matt Dalglish of agricultural consultants Episode 3.

Cattle and sheep prices in Australia fell to multi-year lows last year as dry weather prompted a sell-off from farmers worried they wouldn't have enough grass to feed the animals, many of which were sent to slaughter .

Meanwhile, in the United States, drought has reduced cattle numbers to their lowest levels since 1951 and sent beef prices soaring .

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