Sheep meat exports are rising
THE value of Australia’s sheep meat exports has increased 24 per cent year on year, driven by the value of lamb exports increasing by more than 20 per cent when compared with 2016 figures, according to Rural Bank’s latest Australian Sheep Update. Compiled by Rural Bank’s specialist insights team, the update reveals the value of sheep meat exports is trending higher in 2017 due to strong gains in export unit prices and a small increase in export volumes. This was certainly the case with the Chinese market, where improved unit prices and a 31 per cent increase in volume has led to the value of Australian sheep meat exports tracking 61 per cent higher in 2017.
“With average to above average rainfall forecast for the rest of the year and the Bureau of Meteorology expecting October to be wetter than average in eastern states and South Australia, things are looking good for producers,” Agribusiness for Rural Bank general manager Andrew Smith said.
MARKET: The value of lamb has increased 20 per cent compared with 2016 figures.