How co-products can help double the value of red meat
12 August 2021
Key points:
- Co-products have a fantastic opportunity to play a significant role in supporting the industry’s vision to double the value of red meat sales by 2030
- SW tongues have lifted in price by 176% in 12 months and 18% in the last month
- Foetal blood has lifted by $115 in 12 months to sit at $530/litre on the back of low supply due to the herd rebuild and low volumes of slaughter females
On Tuesday, MLA released its latest Co-products report for August. The co-products of sheepmeat and beef play an important role in supplying some of Australia’s export markets. On Australian shores, they will play a significant role in supporting the industry’s vision to double the value of red meat sales by 2030.
Livestock prices are not the only commodity performing extremely well, with several co-products also showing strength in 2021. In the current market, SW tongues continue to perform strongly at $26.23/kg. Overall, this commodity has appreciated 176% in 12 months and 18% in the past month.
Halal lungs are another strong-performing co-product, rapidly climbing in price since the COVID-19 pandemic began in Australia in March 2020. Currently, the price sits at $4.15/kg, lifting 104% in 12 months.
Foetal blood has done very well over the past 12 months, driven by the low supply of PTIC slaughter females, lifting in price by $115/litre, or 27%, to currently sit at $530/litre. This can be expected to continue on the domestic front with the herd rebuild and the favourable season forecast to remain.
These types of co-products will contribute to and support the industry’s vision of doubling the value of red meat sales by 2030 through domestic and international consumption and through the pharmaceutical industry. They present a fantastic opportunity for the red meat sector to build and promote the profile of their co-products and their culinary or pharmaceutical benefits.
© Meat & Livestock Australia Limited, 2021
