Market Morsel: It can’t last forever

Market Morsel

Aussie lamb exports to the USA have been riding high since March 2022, running above the upper end of the normal range in export flows for much of the year. However, November has seen lamb export volumes ease toward the average trend. Aussie lamb exports to the USA declined by 24% over November to see 5,299 tonnes shipped, which is the first time monthly volumes of lamb to the USA have dipped under 6,000 tonnes since February.

The weaker trade to the USA has weighed upon total lamb export volumes too with November posting a 12% easing in trade to 22,907 tonnes. This places current total lamb export volumes 3% under the seasonal five-year average pattern and the first time monthly export flows of lamb have been under the average trend since April 2022.