Australia reaches Canadian beef quota

All permits for the 2015 Australian beef quota (35,000 tonnes) into Canada have now been issued by Canadian authorities, suggesting there will only be very low shipments out of Australia in the next few weeks, before shipments begin for product to arrive in Canada in 2016.

It should be noted that this is a different system to the US beef quota, which is managed by the Department of Agriculture in Australia.

Grinding beef accounted for 71% of the Australian beef import quota into Canada this year, with cuts the remaining 29%, which correlates with Australian export figures showing 72% of beef shipped to Canada in the first nine months of the year was manufacturing beef.

The Canadian imported beef market has been following the US market in its downward movements over the past few months, and cold stores of imported grinding beef are reportedly very large. A slowdown in trade over the next few weeks may give these stores some time to clear.