January 2024 saw a significant surge in Australian red meat exports, with a 41% increase compared to the same period in 2023. This includes a 47% rise in beef exports, largely driven by high demand in North America, a record-breaking 38% increase in lamb exports, and a 25% increase in mutton exports, significantly contributed by the Middle East and North Africa region. The outlook for 2024 remains positive with expected growth in both mature and emerging markets.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.
Original content
Australian red meat exports have started off strong in January, with total red meat exports 41% higher than January 2023 at 133,146 shipped weight tonnes (swt). Relatively high weekly slaughter across December and January has translated into higher export volumes, and lower production in the United States has generated demand for red meat in North America, resulting in export volumes more than doubling. Beef Exports of Australian beef lifted by 47% year-on-year to 75,585 swt, the second-highest January export figure on record after January 2020. While exports lifted in all markets, exports were particularly strong in North America, lifting 127% year-on-year (Y-o-Y) in the USA to 20,308 swt and 380% Y-o-Y in Canada to 1,096 swt. US cattle slaughter for January was down 7% from 2023 and 23% from 2022, and as American slaughter continues to fall it is likely that Australian beef continues to be exported in large volumes to make up the shortfall. Exports to other major markets lifted ...
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