Australia

25% drop in beef exports for Australia

Beef

The country’s top beef markets have all experienced large year-on-year declines, with exports to Japan, China and the US down 27%, 36% and 44% respectively.

Posted on Apr 19 ,12:17

25% drop in beef exports for Australia

Australia's red meat exports for Q1 are down and beef is the most impacted sector due to a decrease in consumption in the global market and a herd reduction that lifted the prices up in the Australian market.
Beef exports totaled 83,400 tonnes shipped weight (swt) in March, showing some resurgence from levels seen in January and February, but still down 11% on March last year. Cattle prices continue to be buoyed as feedlot operators and processing plants struggle to source inventory, a result of the significantly depreciated herd following many years of elevated drought turn-off, informed MLA. For the year to March, total beef exports are now back 25% on 2020. Consequently, Australia’s top beef markets have all experienced large year-on-year declines, with exports to Japan, China and the US down 27%, 36% and 44% respectively. South Korea continues to be the steady performer and has been the second-largest destination for beef two months running, while exports to the Middle East and North Africa (MENA) are up 15% for the year-to-March.
It is the same situation for lamb, a product tat has dropped 20% in export volumes compared to the first three months of 2020. The US was Australia’s top market in March, taking 5,900 tonnes swt for the month. The US continues to capture a growing proportion of Australia’s chilled lamb exports, accounting for 44% in March, up from 32% for the same month last year. In the recent US Lamb Report, provided by Steiner Consulting, it was noted that imports of lamb from suppliers other than New Zealand and Australia continue to be limited, providing price support for Australian product.

Unfortunately, lamb trade to the Middle East region has fallen away, largely a result of Qatar ending the import subsidies on lamb in December last year. Trade to the United Arab Emirates has also been quiet this year, back 23% on 2020 levels, likely a consequence of elevated prices as supply remains tight. Mutton exports were 12,900 tonnes swt in March, a slight lift on February volumes and just 4% behind March 2020. Overall, mutton exports for the year-to-March are back 26%, again the result of subdued slaughter levels primarily impacting the availability of mutton for export. Mutton exports to China have lifted remarkably, up 58% for the year-to-March. Unfortunately, for many other markets, competition from China has resulted in sharp year-on-year declines in the volume of shipped mutton, commented the analysts.

 

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