Record-breaking beef exports
08 August 2024
Key points:
- Australia’s beef exports reached a record 129,998 tonnes in July.
- Lamb exports also had significant growth, rising by 21% in 12 months, marking the second highest monthly total on record.
- The USA was the largest market for Australian beef and lamb, while China was the largest market for mutton.
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 compete for imported market share.
Exports to China eased 3% compared to July 2023, but increased by 23% from June this year, reaching 16,249 tonnes. Unlike the US, Japan and South Korea, Brazil is the main imported beef supplier to China is Brazil, with healthy slaughter numbers and consistently high exports throughout 2024.
Lamb and mutton
Lamb exports rose by 21% from July last year to 33,590 tonnes, marking the second-highest monthly total on record after the highs seen in May earlier this year. The US was the largest lamb market for the month, with exports totaling 7,943 tonnes, 31% higher than last year. The largest volume increases were in the broader Middle East and North Africa region, with total exports doubling from July 2023 to 9,142 tonnes.
Mutton exports increased by 44% from July last year to 18,519 tonnes. China remained the largest market, though exports fell by 30% from last year to 3,769 tonnes. Instead, the increase went to a wide range of markets;
- exports to Malaysia lifted 71% to 2,140 tonnes
- exports to Saudi Arabia rose 43% to 1,134 tonnes
- exports to the USA rose 31% to 1,071 tonnes
- exports to the UAE rose 161% to 1,038 tonnes.
This diversification means that Australia’s mutton export mix is now more varied than in the past. The top five markets for mutton in July accounted for 49% of exports, compared to 71% in 2023.
