Market Morsel: Trading Places

Market Morsel

Total Australian lamb export volumes in May lifted 22% to see 26,691 tonnes exported. The lift in lamb exports push current volumes to levels 7% above the five-year trend for May. US demand for Aussie lamb is helping support the trade, with May lamb exports to America sitting 44% above the seasonal average, according to the five-year pattern. However, Chinese lamb demand is dragging the chain a bit with volumes running 38% under the five-year May average at just 1,087 tonnes swt.

Total mutton exports from Australia in May gained 9%. At 11,668 tonnes swt Aussie mutton exports are sitting 12% above the May average. In a reversal of the lamb export situation, China is underpinning the strong performance of mutton exports with May trade levels of 4,332 tonnes registering flows that are 155% ahead of the five-year average for May. Meanwhile, US demand for Australian mutton is the laggard at just 665 tonnes exported, which is 31% under the seasonal average pattern.