Tridge summary
In May, Australia experienced a 4% increase in red meat exports compared to the same period last year, totaling 133,444 tonnes. This slight uptick is part of a larger trend showing a 5% decline in the first five months of 2022 compared to the same period in 2021, with a total of 557,265 tonnes exported. The increase is primarily due to a rise in beef exports, with a notable 11% increase from April 2022, largely driven by a 58% increase in grainfed beef exports.
Japan and South Korea, being the largest markets, have shown significant growth in grainfed beef imports, with Japan's imports reaching the highest recorded since March 2020. Conversely, the USA, a dominant market for grassfed beef, has seen a 6% year-on-year decline in red meat imports. Lamb exports also saw a 3% increase, with the USA importing a 9% higher volume compared to May 2021, and there was a notable shift in storage mode with a 37% increase in frozen exports to the USA. Mutton exports experienced a 22% increase, with China becoming the largest market, and there was a significant rise in exports to the Middle East/North Africa region. Finally, goat meat exports saw a 23% increase year-on-year, with the USA accounting for 54% of total exports in May 2022.
Japan and South Korea, being the largest markets, have shown significant growth in grainfed beef imports, with Japan's imports reaching the highest recorded since March 2020. Conversely, the USA, a dominant market for grassfed beef, has seen a 6% year-on-year decline in red meat imports. Lamb exports also saw a 3% increase, with the USA importing a 9% higher volume compared to May 2021, and there was a notable shift in storage mode with a 37% increase in frozen exports to the USA. Mutton exports experienced a 22% increase, with China becoming the largest market, and there was a significant rise in exports to the Middle East/North Africa region. Finally, goat meat exports saw a 23% increase year-on-year, with the USA accounting for 54% of total exports in May 2022.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
Australia exported 133,444 tonnes of red meat in May, a 4% increase from May 2021. To date Australia has exported 557,265 tonnes of red meat this year, a 5% decline from the first five months of 2021. Most of the increase was due to increases in beef exports. In May, 79,536 tonnes of beef was exported, a 4% increase from May 2021 and an 11% increase from April 2022. The largest shift seen this month was in the export of grainfed beef which rose 58% from April and 18% year-on-year (YoY) to 30,835 tonnes. This makes sense in the context of a growing feedlot sector – the number of cattle on feed in Q1 2022 grew 26% YoY to 1.27 million, the highest on record. Grainfed beef made up 39% of total exports in May, compared to 34% in May 2021 and 27% in May 2020. The growth in grainfed export share contributed to considerable growth in Japan, Australia’s largest market. Japan exported increased 17% YoY to 25,606 tonnes. This figure is the highest recorded since March 2020, when export ...
Source: Mla
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