Summary & key takeouts
- Aussie lamb export volumes to the USA lifted by nearly 29% over March 2022.
- Although, lamb export volumes to China eased by 10%.
- Lamb exports to all other destinations lifted by 22% on the volumes recorded during February 2022.
During March Aussie lamb export volumes to the USA lifted by nearly 29% to record 6,866 tonnes swt. Compared to the five-year average for March these levels are running about 33% above the seasonal trend.
However the lamb trade flows aren’t all going Aussie lamb producers way with volumes to China easing by 10% over March to 3,506 tonnes swt. Perhaps there has been a bit of a substitution effect in China over March with Australian mutton export flows over March lifting by nearly 6%.
Lamb exports from Australia to all other destinations (excluding USA and China) have lifted above the five-year average trend for the first time this year to see current monthly levels sitting 5% ahead of the average pattern. There was 14,079 tonnes of lamb shipped to the other destinations which was a 22% gain on the volumes recorded during February 2022.
Strong lamb export results from the US and other destinations saw total lamb export flows reach above the five-year pattern too with a total of 24,450 tonnes swt recorded in March. This is the first time total lamb monthly exports have moved ahead of the five-year pattern this season, albeit marginally, at 1% above the seasonal trend.