MLA report highlights red meat industry resilience
25/09/2024
The report indicates that the industry experienced peak production and slaughter across beef cattle, sheep, and goats despite challenges such as deteriorating weather conditions and the declaration of El Niño. According to the report, the industry remained resilient, driven by strong demand across export markets and growth in processing capacity.
In 2022-2023, the red meat and livestock industry generated a turnover of £81.7 billion, while exports totalled £18.2 billion, a 3% year-on-year increase. Australia remained the largest global exporter of sheepmeat and goatmeat and the second-largest exporter of beef. Domestically, beef and lamb consumption remained strong, with 92% of Australian households purchasing beef in 2023.
The report notes that market stabilisation towards the end of the year was aided by improved rainfall and an increase in processing capacity.
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