Australian Cattle Market Surges: Prices, Exports, and Global Demand in Focus
A combination of rainfall in key production areas, strong export demand, and domestic supply factors has led to rising cattle prices and increased beef exports in Australia.
Price Movements and Market Activity
Cattle prices increased following rainfall in key production areas, particularly New South Wales. The Eastern Young Cattle Indicator (EYCI) rose to its highest level since 2022, with strong demand from restockers reported at several saleyards.
- At Wagga Wagga, young cattle prices rose by up to 100 cents per kilogram.
- At Singleton, steer calves reached A$6 per kilogram.
- Most markets saw increases of 40 to 60 cents per kilogram, according to the National Livestock Reporting Service.
- Heavy cows fetched over A$4.20 per kilogram at Dubbo, Wagga Wagga, and Tamworth. At Dalby, cows reached a saleyard record of A$4.42 per kilogram.
Saleyard records were set at Dalby, with cows reaching A$4.42 per kilogram.
Slaughter and Export Data
Australian abattoirs processed 166,446 head in one week, the highest weekly slaughter figure since 2015. In the three weeks prior to the report, nearly 500,000 head of cattle were slaughtered.
The United States is the largest export market for lean cow meat this year. Australia exported 146,951 tonnes of beef to the US in the first four months of 2025, a 13% increase compared to the same period in 2024.
The US imported more than 600,000 tonnes of beef in 2025, up 16% year-on-year, with increases from Brazil (+39%), Mexico (+22%), and Australia (+13%), according to data cited by Meat and Livestock Australia (MLA).
US Market Conditions
US cow and bull slaughter in the four weeks ending May 2 was 6% lower than a year ago and 25% lower than two years ago. US beef prices are at record highs, and the US cattle herd continues to decline due to drought, with expectations of further decline in 2025, according to US-based meat analyst Brett Stuart of Global Agritrends.
"Beef demand right now is absolutely incredible by any measure." — Brett Stuart, Global Agritrends
- US meat packer Tyson Foods reported an operating loss of approximately $200 million in its beef business for the latest quarter.
- Cattle ranchers are reportedly making large profits, according to Stuart.
- Stuart commented that blaming meat processors for high prices is "misguided," noting that packers are the only segment currently losing money.
US Agriculture Secretary Statement
US Secretary of Agriculture Brooke Rollins offered a perspective on the low US herd size:
"The low herd size ... can be attributed to a variety of factors. The biggest one from our perspective is the radical left's ongoing assault against ranching as a way of life."
Rollins also stated that four companies (JBS, Cargill, Tyson Foods, National Beef) control roughly 85% of the cattle processing market.
Grain and Feedlot Sector
Rainfall put pressure on grain values, with wheat falling by A$25 per tonne in some locations, according to Clear Grain Exchange.
The number of cattle on feed reached a record 1.62 million head, as reported by the Australian Lot Feeders' Association (ALFA). Turn-off exceeded 1 million head for the first time in the first quarter of 2026.
ALFA president Grant Garey noted challenges including China's market access quota, instability in the Middle East, drought, and pressure in fuel and fertiliser markets.
Domestic Drought Conditions
Dry conditions in New South Wales and Queensland led to increased cattle sell-off, but prices remained firm due to strong export demand from the US and China, according to MLA.