There’s a few surprises in the latest red meat export figures

Australian red meat exports have surged in the first three months of the year. Find out which countries are driving the demand for our beef and lamb.

Australia’s red meat exports rose 11 per cent year-on-year in the January to March quarter, setting a new record as the industry begins to navigate a shifting global trade landscape.
North America — particularly the US — remained the dominant buyer, accounting for about a third of all beef and lamb exports.

Australian beef exports to North America surged to almost 100,000 tonnes for the quarter — a 33 per cent increase on the same period last year. Lamb exports to the region also grew, with 25,581 tonnes shipped — up 7 per cent and representing 29 per cent of total lamb exports.

In total, 534,218 tonnes of red meat were exported from January to March. This included:

- 310,975 tonnes of beef, up 13 per cent year-on-year.

- 89,580 tonnes of lamb, up 3 per cent.

- 62,712 tonnes of mutton, up 7 per cent.

- 15,019 tonnes of goat, a spike of 50 per cent on last year.

Meat and Livestock Australia market information manager Stephen Bignell said the record-setting quarter highlighted the value of a diversified customer base in an increasingly complex global market.

“In 2022, about 35 per cent of Australia’s lamb exports went to the US and in the most recent figures, it’s 25 per cent,” Mr Bignell said.

“There has also been huge growth for lamb in Southeast Asia, which is now our fourth-biggest market, and showing Australia has done a good job in diversifying its markets.”

Despite strong numbers, StoneX Australia livestock and commodities manager Ripley Atkinson warned that Australia could become “collateral damage” in any global trade wars resulting from the US decision to slap tariffs on most other nations.

“I’m not an economist and don’t pretend to be, but my major concern still lies in Australia becoming collateral damage and being adversely affected due to slowing Chinese-US economies primarily,” Mr Atkinson said.

“But also the trade war inflicting weak growth and more inflation, which in turn can reduce demand for Australian beef.”

While some industry voices have suggested other nations could help absorb any diverted supply, Mr Atkinson questioned how quickly or confidently exporters would re-engage with China in particular.

“The conversations I’ve had with processors indicate they’re not going to pile back into that (Chinese) market, after some of them lost their business overnight four to five years ago,” he said.

“Their “risk off” attitude means they’re cautious about returning in a large way to this market and that diversity is critical.

“They’ve built successful relationships since the 2020/21 cancellations of licences (export licences with China) with new import partners in other countries and its important to maintain those.”

One of the standout performers this year has been goat-meat exports, which hit a new quarterly record — with the US again the top destination.

Mr Bignell said the 15,019 tonnes exported in the first quarter highlighted the sector’s momentum.

While the US remains the largest market for Australian goat, Mr Bignell pointed to the “exceptional growth” elsewhere— including a 280 per cent increase to China (2812 tonnes) and a 265 per jump to Canada (1433 tonnes).

These figures show that the industry is gradually reducing its reliance on the US,” Mr Bignell said.