Lamb exports reached 31,779 tonnes shipped in August, the highest monthly export volumes ever. The record figure comes off the back of elevated slaughter levels as intense flock rebuilding over the last three years has led to high supply of lambs.
Key Points:
China has taken back the top spot for monthly lamb exports
Mutton exports remain elevated in line with expectations over Spring
High production and low prices remain the key drivers behind strong export volumes
Lamb slaughter numbers are remaining at elevated levels with 443,639 head processed in the week ending 1 September. This is 8% higher than the same week last year.
Figure 1: Monthly lamb exports 2021 – August 2023. Source DAFF
Exports to China (7,310t) increased 31% in August while the US (6,304t) gained 4%. Papua New Guinea (2,484t) lifted by 14%, while volumes to the UAE (2,002t) jumped 20%, bringing year-to-date exports 50% higher than the previous year and the largest uplift of the top four markets.
Figure 2: Monthly lamb exports by destination 2021 – August 2023. Source DAFF
Mutton exports have increased 23% from July to August in line with the seasonal supply pattern. They remain highly elevated, sitting 29% higher than the same time last year and 34% higher than the five-year-average for August at 15,856t.
Figure 3: Monthly mutton exports 2021 – August 2023. Source DAFF
China is well established as Australia’s largest destination for mutton exports. August export volumes were up 23% to 6,616t and year-to-date volumes are 90% higher than the five-year average. Malaysia is the second highest export destination for mutton with export volumes up 95% compared to last year, while exports to Saudi Arabia are up 142% on this time last year, albeit off low bases.
Figure 4: Monthly mutton exports by destination 2021 – August 2023. Source DAFF
Australia is expected to continue exporting significant volumes of lamb and mutton as increased supply, a lower Australian dollar and lower prices improves the competitiveness of Australian product in the global market. Export volumes of lamb and mutton to the US have remained relatively subdued, however, there are positive signs that the flow of trade is improving.
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s
