Market Morsel: Mutton to see here
Total Aussie mutton export volumes during May eased 6% from levels posted in April to see 9,447 tonnes swt consigned. This places mutton exports at a level 12% under the trend that could be expected, according to the five-year average pattern for May.
Highlights for key export destinations are as follows:
- Flows to China dipped by 17% from April to May, but remain 16% ahead of the average for May
- USA volumes also eased, recording a 22% decline from April. Despite this drop, USA demand remains robust sitting 65% above the five-year average for May.
- Mutton export volumes to “other destinations” (outside the top four destinations of China, USA, Malaysia & Singapore) continue to weight on the broader mutton export volumes with flows running 58% under the five-year seasonal pattern for May.