Widespread wildfires mean Australian cattle and beef production will be reduced for the foreseeable future and rebuilding, whenever it can begin, will take several years.
China is so desperate for good beef that Australian billionaire Andrew Forrest will be taking sample parcels of steak in his luggage on his next trip.
But warns higher prices could impact purchases.
Australian ranchers are breathing a sigh of relief after China lifted an import ban on Australian beef that lasted three months.
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Beef exports strong to Korea and Taiwan, but most markets lower year-over-year.
U.S. beef shipments to Japan may drop after the largest Asian buyer agreed with Australia to begin reducing import tariffs as early as next year, Japan’s agriculture ministry said.
In 2016, U.S. chilled beef exports to Japan exceeded the 2015 volume by 50%. Monthly total U.S. beef exports to Japan outpaced Australian beef shipments in February 2017 for the first time in 14 years. These recent succ