The supply of beef and veal in Australia is forecast to show a steady year-on-year increase from 2024 to 2028, incrementing by approximately 0.45% to 0.9% each year. In 2023, the actual supply stood at 2.20 million metric tons (Carcass Weight Equivalent). Over the last two years, the average year-on-year variation has been about 0.5%, demonstrating a consistent upward trend. The Compound Annual Growth Rate (CAGR) over the next five years is projected to be around 0.6% per year.
Future trends to watch for include potential impacts of climate change on livestock markets, technological advancements in agricultural practices, and shifts in international trade policies which might influence Australia's beef and veal production and export dynamics.
