Market Morsel: Sideways
Total live cattle export volumes from Australia eased just 2% from February to March to see 56,073 head of cattle shipped offshore. Live cattle export volumes holding up well considering that there were no flows noted to Vietnam over the month.
Traditionally Vietnam, as a destination for Australian cattle, hold the second highest market share behind Indonesia. Live export flows for March are sitting 23% under the five-year average pattern for March and, despite the lack of exports to Vietnam, a lift in the trade to Indonesia, China and “other destinations” have helped support the overall trade volumes.
A summary of the March 2021 flows show that:
- Indonesian volumes are up 29% on the month to hit 35,680 head.
- Flows to China increased by 12% to see 8,672 head of Aussie cattle exported.
- Aussie cattle exports to “other destinations” jumped by 172% from February levels to reach 11,721 head.