Context: High and variable fetal and calf loss in beef herds occurs across northern Australia. Reasons for the majority of these losses, a major cost to the industry, have remained unknown. Aims: The research question was, which of the 58 region-, property-, management group-, and animal-level risk factors measured are associated with pregnant females failing to wean their calf? Methods: An epidemiological study measured fetal and calf loss (consistently expressed as % points) between confirmed pregnancy and weaning and the major associated risk factors using a selected population from 55 commercial beef breeding herds representing 23 166 pregnancies in the mostly dry tropical environment of northern Australia. Key results: Median fetal and calf loss was 9.5% with large variation. Achievable levels appeared to be <10% for Northern Forest herds, and <5% for Southern Forest, Central Forest and Northern Downs herds. The risk factors most strongly associated with fetal and calf loss were low-fertility country type interacting with phosphorus inadequacy (up to 10% increase), low body condition score interacting with phosphorus inadequacy (up to 8% increase), tall cows (up to 4% increase), and high temperature–humidity index around calving interacting with country type (up to 7% increase). These are nutritional and environmental risk factors and had the combined highest individual effect and frequency. Other risk factors associated with fetal and calf loss included first-lactation cows, which interacted with mustering around calving (up to 9% increase), having not reared a calf in the previous year interacting with cow age (up to 8% increase), low mustering efficiency (up to 9% increase), perceived predation by wild dogs (4–5% increase), high prevalence of Campylobacter fetus sp. venerealis antibodies (7% increase), recent infection with bovine viral diarrhoea virus (9% increase), and inadequate dry-season protein (4% increase). Conclusions: The combined effects of environmental, nutritional and management risk factors on fetal and calf loss in northern Australia were large and additive and were much greater, collectively up to 30–40%, and more consistent than that due to either endemic infectious diseases or animal factors. Implications: Opportunity for remedial action is high and, for the effect of non-infectious risk factors, should target milk delivery to neonatal calves.