Toms River, NJ, April 4, 2024 - Urner Barry, the leading provider of market intelligence solutions for the protein industry, is pleased to announce the expansion of its market coverage to include comprehensive analysis of the Asian beef market, focusing on the trade routes from Australia and New Zealand to the key destinations of China, South Korea, and Japan. This new coverage will be available on Urner Barry's trusted platform, COMTELL, offering crucial insights into pricing trends, commentary, and analysis to stakeholders across the global beef value chain.

Starting March 2024, Urner Barry will release weekly reports every Friday at 8 a.m. EST, providing up-to-date information on beef market prices and analysis, facilitating informed decision-making for market participants. The reports will be accessible on COMTELL under Prices -> Red Meat, catering to the needs of sellers, packers, traders, exporters, and buyers involved in the Asian beef trade.

"China's emergence as a major consumer and importer of beef underscores the importance of reliable pricing information in this dynamic market," said Joe Muldowney, Chief Market Reporting Officer at Urner Barry. "Our expanded coverage addresses this need by delivering timely, accurate, and independent market intelligence, enabling stakeholders to navigate market fluctuations and make informed decisions."

Urner Barry's Asian beef market coverage will also be available on COMTELL PLUS, the company's new offering set to launch in May 2024, further enhancing accessibility and usability for subscribers.

"Our longstanding commitment to providing quality market intelligence remains steadfast," added Muldowney. "With over a century of experience, Urner Barry continues to set the standard for reliable pricing coverage in the protein industry."

ASIAN PACIFIC MARKET INPUT 

China, Japan, and Korea are pivotal players in the global beef market, collectively commanding 45% of the world’s imports valued at over $30 billion. China, as the leading beef importer globally, has experienced a surge in affluent consumer demand. Japan, ranking third globally in beef imports, serves as a significant export partner for both Australia and New Zealand producers, followed by Korea. 

On the supply end, Australia and New Zealand stand out as the largest beef producers in the Asia-Pacific region after China and India. Australia, known for exporting over 60% of its beef production exported 1.08 million metric tonnes of beef in 2023 valued at a record A$11.39 billion. Similarly, New Zealand's beef exports in 2023 totalled 511,680 metric tonnes, worth $4.4 billion during the same period. 

The growth in the Asian Pacific corridor is further fuelled by a dynamic middle-class base in neighbouring countries like Taiwan, Hong Kong, and other emerging markets across Southeast Asia, where beef consumption is projected to rise significantly. 

Note to readers: Tables showing pricing coverage in the platform is available upon request.

Stakeholders interested in learning more about Urner Barry's expanded market coverage can contact:

Joe Muldowney
Chief Market Reporting Officer
joemo@urnerbarry.com
Toms River, NJ USA

Junie Lin
Market Analyst
junie.lin@mintecglobal.com
Queensland, Australia

About Urner Barry:
Urner Barry has been a trusted source of market intelligence for the protein industry since 1858. Specializing in providing accurate and timely market information, Urner Barry serves as an essential resource for industry stakeholders, offering insights that drive informed decision-making and foster success in the global marketplace.