Key points: 

• Brazil and Canada are expanding market access in Southeast Asia as regional buyers diversify beef supply. 
• Indonesia continues enforcing Ramadan beef price caps as cattle prices hold around IDR 55,000kg liveweight. 
• Tight cattle supply and wet season conditions are limiting availability into Darwin despite strong export demand. 

AUSTRALIA: feeder steers Darwin $4.80 

In Darwin, feeder prices have remained at historically strong levels. With values sitting around the $4.80kg liveweight range, exporters appear comfortable continuing to ship cattle when they can source them. The bigger challenge at the moment is availability. Wet season conditions across much of the Top End are limiting road and yard access, so several exporters have been forced to look further south to assemble consignments. Demand from Indonesia remains solid, which is why prices have held up despite the logistical constraints. 

INDONESIA: slaughter steers $4.62kg live weight (IDR 11,942 = $1 AUD) 

Indonesian cattle prices have continued to strengthen since the previous report, with bull and steer prices now around IDR 55,000kg ($4.62kg), extending the gradual upward trend seen earlier in Lampung and Java. The increase reflects the pass-through of higher import costs and firm demand across the supply chain. At the retail level, beef prices remain elevated, with wet market beef knuckle averaging about IDR 130,000kg ($10.98kg) and supermarket beef knuckle reaching around IDR 157,000kg ($13.18kg). 

Meanwhile, chicken continues to offer a significantly cheaper protein alternative, with non-branded broiler chicken in supermarkets priced at approximately IDR 36,900kg ($3.10kg). The substantial price gap between beef and chicken continues to shape consumer purchasing behaviour across Indonesia’s retail protein market. 

The official feedlot reference price remains around IDR 55,000kg live weight ($4.61kg), with operators expected to align selling prices accordingly. At retail level, benchmark prices sit around IDR 130,000kg for forequarter beef ($10.89kg) and IDR 140,000 ($11.72kg) for hindquarter cuts. Frozen forequarter beef is around IDR 105,000 ($8.79kg), while frozen buffalo meat remains the lowest priced option at about IDR 80,000kg ($6.70kg). 

Reported market prices during Ramadan have been hovering close to those levels, suggesting the policy is at least containing the usual seasonal spike. That said, keeping live cattle at IDR 55,000kg while retail beef sits around the mid-IDR 130,000 range does not leave a lot of room through the chain, which is likely why the government appears to be leaning quite heavily on enforcement this year. 

Canada has recently secured expanded access for beef and pork into Indonesia under the Canada– Indonesia Comprehensive Economic Partnership Agreement, opening the door for products such as over-thirty-month bone-in beef. For Canadian exporters, the opportunity will likely sit in Indonesia’s higher-value imported beef segment, competing more directly with Australian chilled and frozen beef in modern retail and food service channels as the middle class protein market continues to grow. 

This looks like part of a broader strategy from Jakarta to diversify its protein supply base. We saw Indonesia approve a number of additional 

Brazilian beef plants last year, and Brazil has also been allocated a larger import quota for 2026. When you add potential Canadian product into the mix, it is fairly clear the government is trying to ensure it has multiple supply options rather than relying too heavily on any single exporter. From an Australian perspective, it is probably not an immediate threat, but it is a reminder that competition in Indonesia’s imported beef segment is only going to increase over time. 

VIETNAM: slaughter steers $4.80kg live weight (VND 18,525 = $1) 

Vietnam has also approved four additional Brazilian beef plants for export, further expanding Brazil’s access to the market. While the volumes involved are unlikely to shift the market overnight, it does reinforce a broader trend I have been watching across the region. Brazil has been steadily increasing its footprint in Southeast Asia, first through expanded access and larger quotas into Indonesia, and now through incremental approvals into markets like Vietnam. This reflects Brazil’s long-term strategy of building presence across multiple ASEAN markets, particularly in the frozen beef segment where price competitiveness tends to matter most. For Australia it is another reminder that competition in Southeast Asia is gradually intensifying as South American exporters continue to push into the region. 

After a year marked by African swine fever outbreaks, flooding and uneven market conditions, Vietnam’s livestock sector is entering 2026 on a steadier footing. Authorities report that overall production remained stable through the disruptions, with food supply secured ahead of Tet. 

The most notable shift has been in live hog prices. Values lifted sharply from around VND 50,000kg late last year to approximately VND 80,000 at the end of January, before easing slightly to around VND 77,000. Strong seasonal demand ahead of Lunar New Year combined with herd losses in affected regions tightened supply more than earlier forecasts had anticipated. 

While pork remains the dominant protein, the volatility highlights how sensitive the market remains to disease events and weather disruption. Company results through 2025 reflected that uneven environment, with several larger operators reporting improved earnings as prices strengthened into year-end. 

The broader direction is one of recovery rather than expansion. Production has stabilised, pricing has improved, and confidence appears firmer heading into 2026, but underlying risks around feed costs and disease management remain part of the operating landscape. 

PHILIPPINES: slaughter steers $3.06kg Live weight ($41 = $1 AUD) 

Livestock prices in the Philippines continue to show a largely stable trend, with only mild movements observed across key categories. Wet market beef knuckle has inched higher to $360kg ($8.80), while supermarket beef knuckle remains steady at$ 415kg ($10.15). Slaughter steer prices have posted a modest gain, rising to around $125kg (about $3.06). Meanwhile, pork carcass values are holding firm at $240kg ($5.87). 

In poultry, supermarket broiler prices are unchanged at $170kg ($4.16), while branded products such as Magnolia continue to trade near $247kg ($6.04). Overall, market conditions remain balanced, with price movements suggesting stability rather than any decisive shift in direction. TQ