Lamb on trend
Market Morsel
Total Australian lamb exports remained close to the five-year average pattern over February 2023 with 22,769 tonnes swt reported shipped for the month, an increase of 25% on the flows seen exported over January. The top destination for Aussie lamb, the USA, remains a little subdued in their demand with volumes running about 10% under the five-year average pattern so far this year after 5,451 tonnes was reported consigned for February.
Meanwhile flows to China are mirroring the trend displayed by total lamb export volumes and are sitting right on the five-year average pattern. February saw a 30% lift in Aussie lamb exports to China to see 4,516 tonnes shipped.
The shortfall from the US demand is being made up by above average flows to all other destinations (excluding the US and China). During February flows of Aussie lamb exports to “other” destinations increased by 19% to see 12,801 tonnes exported. This represents levels that are 4% above the five-year average for February.
