Steady & strong in the USA
Sheep Meat Export Summary August 2024
Total sheep meat exports (mutton & lamb, combined) from Australia to offshore destinations eased by 6% during August to see 49,002 tonnes swt consigned overseas. Despite the slight decline in trade volumes the current export flows remain well above the average levels for August, sitting 38% above the August five-year average levels.
Compared to August 2023 the current seasons volumes are 3% higher, making this a new record export volume of sheep meat from Australia for the month of August.
A summary of the trade flows to the top sheep meat destinations is as follows.
China – Demand for Aussie sheep meat from China remains close to average seasonal levels with the August trade volumes hitting 9,965 tonnes swt. This is just 4% below the five-year average flows usually seen during August. Compared to 2023 though the demand is much softer with volumes down by 28%. The Chinese economy remains in the doldrums presently, so having sheep meat exports running at average levels is probably the best Australia can ask for presently given the consumer sentiment in China is so low.
USA – Thankfully the USA are making up much of the slack in demand with trade volumes for August holding firm and at very much above average levels. There was 8,985 tonnes of sheep meat shipped to the USA over August, less than 1% softer than the July trade volumes. Compared to the August monthly average flows, based on the last five years of the trade, the current export figures are nearly 33% higher with August seeing a particularly strong lift in mutton exports to the US from Australia.
The Others – Sheep meat exports from Australia to the other offshore destinations, excluding China & the USA, dipped by 12% during August. Despite the easing in this trade the volumes over August were still pretty commendable with levels 64% above the five-year average volumes for the month of August with 30,078 tonnes swt shipped.
