The Australian Beef industry and cattle herd are well positioned to capitalise on changing global supply dynamics in 2023.

This year will be a year of transition and maturity for Australia’s cattle herd, with any increases in numbers now beyond rebuild status, with all key production metrics forecast to improve this year, according to the latest Cattle Industry projections update from Meat & Livestock Australia (MLA).

Continued rainfall and favourable seasonal conditions seen last year will ensure that there will be solid supply of both young and slaughter weight cattle over the next two years, regardless of seasonal outcomes.

Last year saw favourable seasonal conditions for large parts of Queensland, driving the beginning of the state’s herd rebuild and an improvement in female numbers.

Northern Australia’s rebuild is expected to gain significant pace this year.

Overall, the cattle herd in 2023 will grow to its highest level since 2014, reaching 28.8 million head, an increase of 1.1 million or 4.5 per cent year-on-year.

MLA’s Senior Market Information Analyst Ripley Atkinson, said this growth is underpinned by a few key factors.

“The record retention of females for 15 consecutive months, coupled with above-average marking rates has delivered larger calf drops,” Mr Atkinson said.

“This bodes well for supply to increase substantially in 2023 for both young and slaughter-weight cattle.

“Both of these metrics suggest that the lowest or most significant retention of stock on record occurred for the year.

“This underpins the positive growth in numbers forecast for the next three years.”

The national herd is expected to reach its highest level by 2025 since the 1970s at 29.6 million head, before a steady decline.

This article appeared in On Our Selection News, 9 February 2023.