Staying strong
The Snapshot
- Total Australian lamb export volumes eased 4% over September but still managed to hit a new record high for September lamb trade flows.
- China took an additional 9% of Australian lamb over September. Meanwhile, the USA saw lamb trade volumes from Australia ease 4%.
- Despite the easing trade to the USA lamb export volumes are still very strong, running 50% above the five-year average volume for September.
The Detail
Total Australian lamb export volumes eased 4% over September, but August was a particularly strong month so the lamb trade volumes remain at elevated levels. There was 25,026 tonnes swt of lamb shipped over September which is the highest September volumes of lamb exports seen on record.
Fuelling the strong exports of Aussie lamb in September has been the steady rise in Chinese demand over 2022 and exceptionally strong appetite out of the USA. China took an additional 9% of Australian lamb over September to see export flows hit 5,438 tonnes, the best month so far this year and levels that are 24% above the five-year trend for September.
Meanwhile, the USA saw lamb trade volumes from Australia ease 4% to 6,780 tonnes. The softening in Aussie lamb exports to the USA over September isn’t something to panic about as current monthly volumes are running 50% above the five-year average for September.
Australian lamb exports to “all other” destinations (excluding USA and China) also remain in elevated territory, despite a 9% decline over September. There was 12,807 tonnes swt of Aussie lamb exported to these other destinations over September, which represents levels that are 18% above the five-year average for September.
