Red meat exports surging
AUSTRALIAN red meat exports continue to surge ahead as high slaughter is offset by increased global demand.
Lamb exports last month reached the second highest monthly volume on record with 27,500 tonnes shipped – up 22 per cent year on year – and mutton exports for the month reached 14,700 tonnes, 27 per cent higher than the same month last year.
And while beef exports didn’t reach the highs of March, 98,648 tonnes was exported last month, up 12 per cent on the year prior.
Beef exports for the year to the end of April were sitting at 363,566 – an increase of more than 11 per cent on the same time last year.
Rabobank senior animal proteins analyst Angus Gidley-baird said high slaughter and production was pushing more volume into the export market.
Meat and Livestock Australia global market analyst Adam Cheetham said there was increased demand for protein from China, and Australia had been able to supply more due to higher slaughter rates.
Mr Cheetham said shipments of lamb to the US and China increased 23 per cent and 58 per cent year on year respectively, up to 5400 tonnes and 6700 tonnes.
“This was mostly as a result of increased Australian supply, particularly of old-season heavy lambs, as dry conditions across key lamb producing areas incentivised turn-off,” Mr Cheetham said.
In the beef market, it was again the US and China driving demand.
— Nicola Bell