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 Nervous demand hits lamb market 

Nervous demand hits lamb market

17 Nov, 2008 12:35 PM
AUSTRALIAN lamb producers will be looking for a new-year reprieve in demand with exports during October dropping by 9 per cent year-on-year, to 16,131 tonnes swt.

Meat and Livestock Australia signal sluggish demand in the US, China and Mexico as key contributors.

The fall comes on the back of a 6pc drop in exports for the October calendar year, at 123,185 tonnes swt.

In the United States, tight supplies of Australian heavy lambs, coupled with the countries’ economic downturn continued to dampen lamb exports with shipments back 15pc

year-on-year, to 4,560 tonnes swt.

These factors combined with exchange rate fluctuations during the year, saw exports to the US in the calendar year to October fall 21pc year-on-year, to 29,425 tonnes swt.

Demand for Australian lamb in China eased during the month, with exports falling 24pc

year-on-year, to 1,434 tonnes swt, while volatility in the Mexican peso over recent

months saw shipments to Mexico plummet six fold, to 190 tonnes swt.

Strong demand in the EU and Middle East was insufficient to offset the lower shipments

to other markets during October. Exports to the EU jumped 41pc year-on-year, to 2,323

tonnes swt, while shipments to the Middle East rose 14pc, to 2,498 tonnes swt.

- Meat and Livestock Australia

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