Goatmeat strongest red meat export commodity

Australian goatmeat exports in 2021 are outperforming 2020 volumes on the back of prices remaining buoyant and strong slaughter levels driven by favourable market prices.

Interestingly, year-to-date slaughter volumes in 2021 are 30% stronger than 2020 levels, or 234,000 head, while pitted against the five-year average, they are 30% softer, or 234,000 head. Indeed, the improved slaughter volumes compared with 2020 and the national goat herd’s rebuild from drought has been positively supported by the 2021 over-the-hooks (OTH) price, which is 3%, or 28c/kg cwt, stronger than the 2020 average in year-to-date prices.

In current market terms, the OTH goat price has been steady in recent weeks, sitting at 888c/kg cwt, falling softly from its high of 898c/kg cwt six weeks ago on 3 September. For 2021, the price has continued to recover from its first week start of 805c/kg cwt, as exporters continue to offer favourable prices to meet the bulging export interest.

With producers increasingly looking to incorporate goats into their operations as a managed enterprise option, Australian goat exports are outperforming 2020 levels on the back of this slaughter volume strength.

In 2021, overall goat exports are operating 20%, or 1,696 tonnes, better than 2020 year-to-August levels, driven by continued growth in the US and explosive volume upticks from South Korea, with its exports rising 97% this year. Annually, the US accounts for 67% of total goatmeat export volumes, demonstrating its significance for Australian red meat producers as a market. In 2021, the country’s export volumes have seen a 25% uptick year-to-date.