Market update: goats stay stable

After almost four years on a steady upwards trajectory, over-the-hook (OTH) goat indicators found a new level in October 2017. They have remained relatively stable since then, averaging 468¢/kg carcase weight (cwt) this week.

This price correction was a result of the increasing Australian dollar, which averaged almost US80¢ in September 2017, as well as the increasing availability of other small stock, and the temporary and permanent closures of some processing plants.

Eastern states goat slaughter was just over 152,000 head in February, while this is 18% below year-ago levels, it is in line with the five year average. Slaughter has trended below year-ago levels since November and is expected to ease over the next few months.

Australian goatmeat exports for February were 23% lower year-on-year, on the back of lower supply, totalling 2,431 tonnes shipped weight (swt). Shipments to the US, Australia’s largest goatmeat export market, accounted for 70% of the February total, at 1,710 tonnes swt – down 32% on 2017 levels. February shipments to Taiwan, the second largest market for Australian goatmeat, increased by 41% year-on-year to 334 tonnes swt. Volumes to Canada and Trinidad and Tobago declined 31% and 17%, respectively.

More information:

Keep an eye out over the coming weeks for the release of MLA’s new global goatmeat market snapshot.