The ABSF Explained: Annual Update

The Australian Beef Sustainability Framework’s (ABSF) 2024 Annual Update was fittingly released at Beef 2024, the largest beef exposition in the southern hemisphere.

The seventh instalment of the sustainability snapshot of the beef value chain was discussed among a host of senior industry figures, with an address from Federal Minister for Agriculture, Fisheries and Forestry, Murray Watt.

One of the new features of the ABSF is the ability to view all current and historical results via the Digital Dashboard.

The easy-to-navigate interface allows users to select any of the ABSF’s priority areas (pictured) to reveal graphs that show current and historical data for more than 50 metrics.

Highlights from the 2024 Annual Update include a reduction in net CO₂e emissions from the Australian beef industry of 78.2% from the 2005 baseline levels to the latest reporting year (2021). In that same year, the carbon sequestered in vegetation on beef cattle properties was estimated to have increased to 31.31Mt CO₂e. Surveys show almost 160 million hectares of grazing land is being actively managed for biodiversity, an area greater than the entire farmed area of the European Union.

The economic contribution of the beef industry to Australia’s GDP increased 49% between 2021 and 2023 due to a significant increase in the prices of livestock. In 2023, live cattle exports jumped 13% (584,123 to 661,392), while the mortality rate remained at the record low of 0.5%.

However, between July and September 2023, the Eastern States Young Cattle Indicator (EYCI) fell by almost 40% triggered by a dry seasonal outlook and high stock numbers after a multi-year herd rebuild.

The shift to sourcing more energy from renewables has continued, with 58% of beef producers either purchasing renewable energy or generating their own on farm. More than four in every five producers (81%) has adopted practices to improve soil water retention.

Despite the positive results, there a number of challenges confronting the industry, including the ongoing emergency animal disease risk from our near neighbours. The prolonged summer temperatures and high humidity created the risk of heat stress events, with the feedlot sector actively working with affected feedlot operators and stakeholders, including Chief Veterinary Officers, government agencies and the RSPCA, to respond to these events.

Deteriorating security in the Middle East has also caused delays and logistical difficulties for key strategic shipping routes, affected meat and live exports from Australia.

Read the full report here