Mutton Export Summary October 2023
October 2023 saw a solid 23% lift in mutton exports over the month to hit 20,187 tonnes swt consigned offshore. This is the highest total monthly export flows have been since March 2023 and the best October result since 2018. Compared to the five-year average for October the current mutton export flows are sitting 20% ahead of trend.
Chinese demand continues to dominate the mutton trade from Australia in 2023, with China accounting for 45.4% of total export flows this season. Meanwhile Malaysia sits comfortably in second place on 10.8% of the trade, ahead of the USA on 6.0%.
A summary of the trade flows to the top four mutton destinations is as follows.
China – Managed to eclipse the peak seen in March to record the strongest monthly flows since November 2019. There was 10,195 tonnes swt of mutton exported to China from Australia over October, this represents a 15% increase from the volumes sent in September. Despite the strong lift in demand for Aussie mutton in China over October this isn’t the strongest October on record, that feat was achieved in October 2019. For the first time this year Chinese mutton flows failed to outperform the previous respective monthly highest record, but it was a still an impressive result nevertheless.
Malaysia – Aussie mutton flows to Malaysia remained consistent with just 3 additional tonnes shipped in October 2023 compared to September. There was 1,689 tonnes swt of mutton reported exported from Australia to Malaysia during October, representing levels that are nearly 27% above the five-year average for October.
USA – Showed an improved result for October with a 90% increase from the September levels, although rising from a low base. There was 1,332 tonnes of Aussie mutton exported to the USA during October and despite the strong surge from the September seasonal lull volumes were unable to get back above the five-year average pattern, remaining nearly 29% under the average seasonal trend.
Saudi Arabia – Posted another huge month, despite Aussie mutton export volumes easing by nearly 18% over October. There was 1,261 tonnes of Aussie mutton shipped to Saudi Arabia in October 2023, which is the best October result since 2018. Despite volumes coming off from the September seasonal peak current trade levels still sit a healthy 120% above the five-year average level for October.