Markets intelligence service provider Argus is hosting a beef export forum in Brisbane next month, focused on risk management tools including the Stonex feeder steer swaps product and recently-released meat pricing tools for use in the Australian beef export market.

Argus provides a worldwide commodity reporting service covering energy products, chemicals, fertilisers, metals and agriculture.

Argus 65CL and 85CL frozen boxed beef price  – July ’23 to 14 Feb ’24

The company’s Australian beef export pricing service has been developed in consultation with market participants across the supply chain.

The service started shadow pricing on frozen 85CL and 65CL Australian boxed beef in July last year, and commenced issuing weekly prices in December (see graph). The prices represent frozen boxed beef delivered Port of Brisbane FAS (free alongside ship) for three to six weeks forward from the date of assessment. Domestic trim sales are also incorporated.

The service is designed to help build price transparency and risk management solutions for the Australian beef market. Already the service has attracted interest from stakeholders in Australia, plus buyers overseas in Japan and elsewhere. The finance industry has also shown interest in the service, for lending protection purposes.

Feedback from users so far has been that the figures published are current and accurate at time of release, Argus told Beef Central. A free trial is currently being offered to the information, but ultimately the service will be provided on a subscription basis.

The frozen boxed beef market is one of the most liquid Australian beef export markets, with major importers in Japan, South Korea, China and the US, Argus said.

Australian boxed beef export prices have come under pressure as a supply overhang from the US herd liquidation of 2022 is limiting Asian buying. But this is balanced against the expectation of lower future supply from the US, as it rebuilds its herd, now that a drought appears over.

Feedlots, backgrounders, meat processors, beef import and export traders, Asian and US consumers can access Argus’s price discovery and market intelligence to stay abreast of the market. They benefit from a service developed with the industry, for the industry.

The new grinding beef pricing service joins Argus’s earlier feeder steer price reporting through the StoneEx Swaps hedging tool, launched last year. The Swaps market provides data for Northern and Angus feeder cattle delivered, plus Northern feeder cattle monthly average price reporting.

• Argus’s half-day export beef forum will take place at Brisbane’s Calile Hotel on 11 March, starting at 2pm, Brisbane time.
• Limited spaces are still available for next month’s forum. Click here for details.