Market Morsel: Lamb flying high

Market Morsel

Aussie mutton exports maybe running below trend, but the same cannot be said for our red hot lamb export sector. Australian lamb exports in October increased 4% to hit 26,144 tonnes swt, which makes the third time this year that lamb exports have gone above 26,000 tonnes. Current lamb exports are riding 13% above the five-year average pattern for October.

It is continued strong demand from the USA that is underpinning the total lamb trade volumes. Lamb exports to the USA from Australia lifted 3% over October to see 6,983 tonnes swt consigned, this represents levels that are 34% above the five-year average pattern for October.

Lamb export demand from China sits above average levels too. At 5,319 tonnes for October Chinese demand for Aussie lamb is placed nearly 5% above the normal levels seen, as per the five-year average for October.