Big first half for Aussie exports

Australian sheep meat exports in the first half of 2024 set a new record at 300,726 tonnes which was up 51,669 tonnes on the same period last year (see Figure 1, below).

Beef exports were also exceptionally strong at over 600,000 tonnes in the first half of the year which is 123,000 tonnes higher than in the first half of 2023 (see Figure 2, below).

Australian beef and sheep meat production and exports are volatile year on year with climate more than markets being the main driver.

The country had been in herd and flock rebuilding for the first three years of this decade and is now restored to full capacity though a prolonged dry spell in late 2023 led to higher-than-expected cattle and sheep kills.

Markets - beef

The main export market for Australian beef in the first half of the year has been the US which has taken 255,359 tonnes in total, with volumes to the East Coast USA up 30% year on year and volumes to the West Coast up 90% on the same period last year.

Japan is the next largest market for Australian beef, taking just under 134,000 tonnes in the first half of 2024, up more than 30% on the same period last year. China remains the third most important export market at 89,795 tonnes which is 9% lower than the same period last year with South Korea close behind on 89,466 tonnes for the first half.

The market that will be of particular interest to Irish farmers is the volume sent to the UK. This remains tiny in the overall context of Australian beef exports at 2,859 tonnes for the first half of the year but this is three times higher than in the same period last year when the trade deal hadn’t come into effect.

Markets – sheep meat

Australia consolidated its position as the global leader in sheep meat exports in the first half of 2024. Despite an almost 22% drop in volumes exported to China in the first half of the year compared with last year, they remain the largest export market at 60,440 tonnes. The US is the next most important market taking just over 52,000 tonnes to both east and west coast ports. Malaysia is the third largest export market at just over 21,000 tonnes.

Volumes to the UK showed a sharp increase to 8,863 tonnes for the first half of the year which is a 71% increase on the same period last year when the trade deal hadn’t come into effect.