US red meat imports lift amid rising tariff tension

Australia’s beef and lamb exports to the US surged last month, as the industry carefully monitors announcements from president Trump on tariffs.

Australia’s reliance on the United States as a major customer for red meat was reinforced again via February’s export figures.

Of the 117,502 tonnes of beef exported last month, the US took 35,092 tonnes or 30 per cent - up 64 per cent on the amount imported last February.

It’s a similar story for lamb, with the 8657 tonnes imported by the US making it the number one destination globally for Australian product, taking 25 per cent of all exports.

The figures come as the Australian livestock industry carefully monitors announcements from US president Donald Trump on tariffs.

Meat and Livestock Australia global market analyst Tim Jackson said the bigger national herd and subsequent production was finding a market in the US.

“As Australian production has lifted over the past several years, most of the additional beef has gone into the US,” Mr Jackson said.

“In February 2022 – at the peak of the Australian rebuild - Australia exported 9025 tonnes to the US or one quarter of what was exported in February this year.”.

To date this year, the US has imported 59,777 tonnes of beef and 14,677 tonnes of lamb.

In 2024, total beef exports to the US were valued at $4.16bn with 72 per cent of the 394,716 tonnes made up of frozen grass-fed beef.

Australian beef exports were worth more than $4 billion to the US last year.

StoneX Australian commodities and livestock manger Ripley Atkinson said he did not want to scaremonger, but said the “very fluid situation” around the US and tariffs came with risks to the Australian red meat trade.

He said one of the concerns was the federal election, and while a date was yet to be announced, the current federal government would go into caretaker mode when the date was released.

“Once the election is called the government goes into caretaker mode, it means political work can’t be done while the campaigns are on,” Mr Atkinson said.

“The livestock market is emotional at best of times - think about how it gets over the weather – so if it were to hear that our largest and most valuable export market for beef had placed a tariff on our product, prices would immediately come under serious pressure.

“This isn’t because of the actual tariff itself, this is about perception from the market of the ‘tariff’ that would spook pricing.”

Mr Atkinson said that Australia could avoid tariff, and continue to supply the US unimpeded, a market where beef supplies are low.

“But we must be aware as a sector of these kinds of developments – it’s a delicate balance between having the conversation and recognizing there are big risks and also scaring people,” he said.

“I don’t wish to scare people but I think the cattle price would cop a hammering on the perception of tariffs if they were implemented against us.”

Away from the volumes to the US, beef exports to China were up 36 per cent compared to last February at 21,373 tonnes, while Korean imports were also up, lifting 28 per cent to 17,799 tonnes. Indonesia also took an increased volume of 5012 tonnes, a lift of 79 per cent year-on-year.

The only major Australian beef market which imported less was Japan, down 15 per cent compared to last February at 20,115 tonnes.