International

Record volumes of lamb exported by Australia and New Zealand

Lamb

Despite the fact that both countries have flooded the global market with lamb, prices are still holding, according to MLA analysts.

Posted on May 08 ,10:32

Record volumes of lamb exported by Australia and New Zealand

Australia and New Zealand have exported a higher volume of lamb in the first quarter of 2019 but that didn't influence the prices, according to an MLA analysis.
First quarter New Zealand lamb exports lifted 11% year-on-year and were 5% above the five-year average. Typically, New Zealand lamb exports peak in March but, depending on seasonal conditions, can remain elevated through to the end of May. Given the lift in exports in March, New Zealand lamb supply may have already peaked for the season.

Meanwhile, lamb-producing regions in Australia have continued to grapple with deteriorating feed conditions and water shortages, pushing increased lamb and sheep numbers through to slaughter. First quarter Australian lamb exports were up 19% year-on-year and were 27% above the five-year average.
The most significant transformation in export dynamics has come from China, purchasing record volumes of imported product in 2018. For New Zealand, China now represents half of the total sheepmeat exports; for Australia, it is closer to a quarter. While both countries have greatly benefitted from China, the market remains sensitive to fluctuations in its domestic flock and ongoing trade tensions.
However, Beef + Lamb NZ estimated the 2018-19 lamb crop to decline slightly, to 23.7 million head, so high export levels may reflect dryer-than-normal conditions in New Zealand and fewer lambs being held back as replacements. Looking ahead, lamb supplies in New Zealand will continue to dry up until the new season commences in the last quarter of 2019. In Australia, much hinges on a decent autumn break in key sheep-producing regions.

 NEWSLETTER - Stay informed with the latest news!

Comments





Similar articles

Turkey

Turkey's cattle imports lifts enough to worry local breeders

Cattle farmers in Turkey are urging the authorities to halt livestock imports and to offer suppor...


Read more Read more
Italy

ASSICA celebrates the opening of the Chinese market

Italy has received the right to export frozen pork and offals to China after 15 years of negotiat...


Read more Read more
International

FAO meat price index up again

FAO meat price index has increased by 10% between January and July, reaching 176.2 last month. Th...


Read more Read more
Websolutions by Angular Software and SpiderClass