Global lamb market – Oceanian exports pivot as China’s demand looks to shape 2025 market

Published Dec 20, 2024

Tridge summary

In 2024, Australian sheep meat exports experienced a 16% increase, driven by higher production which resulted in record numbers for lamb and sheep slaughter. However, there are concerns about the impact on the breeding flock due to the rise in ewe slaughter. The middle East and the US are emerging as new markets for Australian sheep meat, which could help offset potential declines due to a tightening supply. Meanwhile, New Zealand's sheep industry is facing challenges such as urban sprawl and falling profitability, leading to a decrease in flock sizes. The EU's sheep meat production has fallen due to smaller flocks and lower slaughter rates, but demand remains resilient. In contrast, China's sheep meat imports have declined due to overproduction, but there are signs of potential recovery in 2025.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Australian exports of sheep meat have grown considerably in 2024, an increase of 16% year-on-year (January to October) . This was driven largely by increased production, with 2024 set to be a record year for lamb and sheep slaughter and Q2 of this year the highest on record. This is likely a result of 2023’s peak flock numbers followed by some liquidation of the herd in 2024. Ewe slaughter in the region has increased 17% year on year, meaning higher supplies in 2024 but with potential implications for the breeding flock looking forward. Lamb slaughter has lifted in 2024, at an increase of 11% year-on-year (Jan to Sep). Yet Q3 of 2024 is starting to see declines in volume which we are likely to see continue into 2025. Yet, export prices for Australian sheep meat have started to recover in 2024, up 6% year-on-year, supported by strong exported demand from both the Middle East and the US. The Middle East and North Africa now account for 30% of Australian sheep meat export volumes, an ...

Source: Ahdb