Beef exports hit new high

THERE have been plenty of export records broken during 2024 and the October figures show it hasn’t stopped yet! 

Australian beef exports in October reached 130,049 tonnes, breaking the record for the highest quantity of beef exported in a single month for the second time this year with July setting a record back then. 

The United States was our largest market with exports up 64 per cent on last year.

While frozen exports made up the majority of this, chilled beef exports increased 88 per cent on last year to reach the highest volume on record into the US. 

South Korea was our second biggest customer with exports up 13 per cent year on year while the biggest growth market was Indonesia, where exports were up 95 per cent on October last year.

As far as the calendar year is concerned we are on track to break all beef export records, with the last set back in 2014. 

Lamb exports in October fell 13 per cent, which was mainly due to a 38 per cent drop in exports to China. 

However, despite this fall China remains our second largest market. Our largest export destination in October was the US where exports were up 18 per cent and the lamb exports to this market are up 32 per cent for the year to October.

We still appear to be on track for 2024 to be a record-breaking year for lamb exports as well. Mutton was a big improver with exports year on year up 35 per cent, which is the largest October since 1994. 

China remains our largest mutton market accounting for over half the total volume. 

The big improvers were Malaysia, up 87 per cent, and the US up 53 per cent. 

Although it doesn’t apply to us here in Tassie, goatmeat exports are also flying with volumes up 48 per cent in October and breaking the all- time records set in 2014. 

Australia’s biggest clients are the US followed by China and South Korea. 

Interesting interstate to note that saleyard cattle numbers are growing very quickly. 

This is putting pressure on processing space right up and down the eastern seaboard. 

There are plenty of reports of abattoirs booked out till around Christmas or thereabouts, which is going to put pressure on prices in the short term. 

The late spring season will play a major part in this equation.