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July beef export values soar, lamb declines
16 September 2015
Australian beef export values were up 26% year-on-year during July, at $860 million, largely driven by the strong international demand and assisted by the combination of a weakening A$ and high beef production.
On a country specific basis, July beef values were up year-on-year to all major markets:
- The US was $305 million, up 52%
- Japan $161 million, up 12%
- Korea $122 million, up 55%
- China $93 million, up 72%
Furthermore, the average unit value for Australian beef exports for the month was $7.02/kg, up 28% from the corresponding month last year, boosted by an average $7.31 to the US.
On the lamb front, the July value was down 15% year-on-year, at $127 million, as a result of slightly lower volumes exported. The value to the largest three markets was higher year-on-year, however that was not enough to offset the reductions to others.
On a country specific basis, lamb export values were as follows:
- The US was $36 million, up 2%
- Qatar $13 million, up 13%
- UAE $11 million, up 23%
- China $9 million, down 55%
The average unit value of Australian lamb exports was $6.91/kg, up 1% year-on-year.
Mutton export values during July also declined (9%) from the corresponding period last year, at $45 million, with the 10% rise in unit price ($5.15/kg) not enough to offset the lower volume shipped.
