Australia's red meat export values show decrease

The value of Australian beef and veal exports declined 17% on-year during January to AUD196 million (US$179 million), as the combination of reduced beef supplies and the high Australian dollar affected returns.

For beef, export returns during January were lower from three out of the four largest markets, with the US back 41%, Japan 26% and Indonesia 9%. Korea was the only major market to buck the declining trend, with shipments for the month up 30% from a very low January 2009 total, at AUD30 million (US$27 million).

Lamb export values recorded their first January year-on-year fall since 2003. Values were back to all major markets, except the United Arab Emirates and Saudi Arabia, where demand has remained strong, defying lower supplies, higher lamb prices and the strong Australian dollar. In contrast to lamb and beef, the value of Australia mutton exports during January increased 5% on-year.