Australia: Record-breaking beef exports

Published Aug 8, 2024

Tridge summary

In July, Australia's beef and lamb-mutton exports reached unprecedented levels, setting new monthly records. Beef exports increased by 5% from the previous record, with the US being the largest market, followed by Japan and Korea. Lamb exports rose by 21%, with the US and the broader Middle East and North Africa region showing the largest volume increases. Mutton exports also increased by 44%, with China remaining the largest market but seeing a decrease in imports, while exports to other countries such as Malaysia, Saudi Arabia, and the UAE saw significant increases. This indicates a diversification in Australia's mutton export market.

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

Original content

Australia’s beef exports reached unprecedented levels in July, setting a new monthly record. This surge highlights the dynamic nature of global meat markets and Australia’s significant role within them. Beef In July, beef exports reached 129,998 tonnes, surpassing the previous record of 123,464 tonnes set in March 2015 by 5%. The export distribution was influenced by the supply dynamics discussed in the Global Beef Market Update (GBMU). The US slowdown created space in most markets, while substantial South American production limited exports into others. The US was the largest beef market for Australia, with exports increasing by 61% from July last year to reach 38,540 tonnes, accounting for 30% of the Australian export total. Exports to Japan and Korea also rose significantly, by 48% and 20% year-on-year to 26,297 tonnes and 20,331 tonnes respectively. The slowdown in US production has created demand for imported beef in the US, and Japan and Korea, where Australia and the US ...

Source: Mla