AUSTRALIA - Australian beef and veal export values during January were double the five-year average, at A$480 million, boosted by the high volumes shipped into a strong global beef market, according to Meat and Livestock Australia.
The value of shipments to the US was almost four times the five-year average, at A$173 million, where 90CL (90 per cent Chemical Lean) manufacturing beef averaged 633A¢/kg FAS – up 59 per cent over the same period.
Beef shipments to Japan were valued at A$106 million, up 43 per cent from the five-year average, despite volume being slightly lower – a factor of the stronger export prices.
Shipments to Korea were valued at A$61 million for January, up 61 per cent on the five-year average, while to Taiwan the value was up 32 per cent, at A$11 million.
Saudi Arabia remained the largest value market in the Middle East, with a value of A$12 million for the month, while shipments to the EU were A$10 million.
Given the global beef market is still relatively strong, export values are anticipated to remain high over the coming months, offering support for cattle prices, especially if saleyard and slaughter throughput subsides.
Additionally, with intense international demand likely to stay, the domestic market is expected to remain stretched for product, regardless of the anticipated high production.
TheMeatSite News Desk