Unlike most countries, Australia exports the majority of the red meat it produces and in 2012, 62% of the red meat produced was sent overseas (excluding goatmeat and offal), valued at $6.3 billion.
Historically Australia's red meat exports have been heavily weighted towards North Asian and North American markets. In recent years though, exporters have been diversifying the mix of markets, with a stronger focus on markets in South Asia and Greater China, and the Middle East.
Not only are the destinations of Australia's exports changing, but the composition is shifting too. MLA's latest Composition of Australian red meat exports Red Meat Market Report (published August 2012) highlights some of the key trends that were apparent in the August quarter of 2012.
These changes reflected:
- Tighter grassfed cattle supplies, following widespread rain, which impacted production.
- Cautious buying in the US.
- Positive performance of the Japan fast food sector, along with lower stocks in this market.
- The continued decline in sheepmeat production.
Read the full Red Meat Market Report: Composition of exports August 2012
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