ABS livestock products report: red meat industries increase in June quarter

As the EYCI continues to climb, there were a few surprises in the latest beef and lamb value results released by the ABS. See the figures.

MORE, more and more – that’s the analysis of the latest statistics released about meat and wool production.

Better seasons have shown up in the Australian Bureau of Statistics, which released its latest livestock products report today.

The good seasons have shown up in bigger throughputs and bigger carcass weights, boosting the gross value of sheep, cattle and pigs, which all rose in the June quarter.

The only industry to miss out was the chicken industry, where the gross value was down 14 per cent.

In contrast, the gross values for other meats in the three months to June increased including:

BEEF up 8.6 per cent to $3.9 billion.

SHEEP And lambs up 3.1 per cent to $1.3 billion.

PORK up 7 per cent to $409 million.

Overall, red meat production increased 5.5 per cent and wool receivals were up 11.6 per cent, reflecting the outcomes of better seasons across much of Australia.

That was also reflected in the amount of beef and sheep meat produced in the June quarter.

Cattle slaughter during those three months was up 2.6 per cent to 1.5 million, but beef production was up 2.9 per cent.

It was a similar story with sheep, where a 21.3 per cent increase in slaughter (to 1.8 million) lead to a 30.5 per cent increase in mutton production (48,624 tonnes).

And that was repeated for the lamb industry, where slaughter was up 5.1 per cent (to 5.2 million) but lamb meat production increased 11.4 per cent up 134,423 tonnes.

There was also a big lift in national wool receivals, which were up 11.6 per cent to 95,172 tonnes.

But in the saleyards, it’s cattle that are surging and sheep prices that are taking a battering.

The benchmark Eastern Young Cattle Indicator rose 8c/kg yesterday to keep it above the 1000c/kg mark, closing at 1015c/kg at the end of the day’s trading.

The EYCI has risen 53c/kg in the past week and is now trading 10c/kg above where it was a year ago after dipping below 900c/kg.

It is in stark contrast to the lamb industry, which is buckling under huge numbers and the convergence of old lamb supplies with new season suckers.

All but the heavy lamb indicator closed lower after yesterday’s sales, with the restocker lamb taking the biggest hit. It closed at 617c/kg, 399c/kg lower than the same time last year.

Only trade and heavy lambs closed about 700c/kg.