News

Global markets export wrap

Meat
Published Jun 29, 2022

Tridge summary

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.

Original content

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 volumes were much higher overall. Most of this growth came from grainfed beef with grainfed exports growing by 33% YoY to 14,326 tonnes while grassfed exports increased by 2% YoY to 11,280 tonnes. A similar dynamic can be observed in South Korea, where exports rose by 2% YoY to 13,220 tonnes. Grainfed exports rose by 10% YoY while grassfed exports fell by 4%. By contrast, ...
Source: Mla
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