MARKET SNAPSHOT
- Clara Leung
- May 1
- 4 min read
Friday, 1 May 2026
Latest meat market conditions
The Australian Bureau of Statistics (ABS) released its latest Consumer Price Index (CPI) figures yesterday, which showed the index had risen to 4.6% from the 3.7% figure previously reported for the 12 months up to February 2026. General media reporting jumped on this figure, however the ABS did point out that the trimmed mean inflation – an underlying measure that removes 15% of both the most extreme price rises and falls to strip out volatility and highlight the long-term trend - was 3.3%. This was unchanged from 3.3% in the 12 months to February 2026.
The largest contributors to the CPI rise were reported as: housing (+6.5%), transport (+8.9%) and food and non-alcoholic beverages (+3.1%).
BEEF
The appetiser – what the market means for foodservice
As previously reported, key factors are subtly shifting the beef market for domestic foodservice. While petroleum increases continue to impact costs through the supply chain, some movement in demand from the US is starting to be observed by the sector.
The mains
Beef Central reported that demand out of the US for Australian frozen trim used for hamburgers has been softening, with key contributors stated as being the combination of heavy supply from Australia and Brazil, as well as consumer budget impacts from fuel prices.
While remaining at near-record levels at 161,999 head, the National cattle slaughter fell 1.7% in the week ending 24 April 2026. For the week ending Friday 17 April, slaughter was up 34,000 head or 26% on the previous week, which was also 37% higher than the same time last year.
These high turnoff rates are being driven from dry cattle producing regions of NSW and Queensland, fuelled further by the ongoing demand in global markets.
LAMB
The appetiser – what the market means for foodservice
Lower lamb volumes and sustained export demand means that lamb will remain under pressure for domestic foodservice, especially for premium cuts and grades.
There are no forecasted short-term changes to availability or pricing, but please remain close to your sales representative as the sector is susceptible to global shifts.
The mains
The Weekly Times reported today that the National Trade Lamb Indicator – a measure of saleyard prices - gained 29c/kg in a week, and is 337c/kg higher than the same time last year.
Meanwhile, in its Autumn market outlook, Elders forecasted that:
“Sheep and lamb slaughter will tighten further seasonally over the next few months which will underpin prices. However, demand for sheepmeat is likely to be compromised by a second round of price peaks in autumn 2026. In response to the price and supply outlook, the local processing sector is preparing for operational adjustments. This includes reducing operating days or shifts and extending winter shutdown periods. This will restrict demand for sheepmeat and limit extent of the usual seasonal rise in sheepmeat values over the next quarter.”
In the immediate instance, however, MLA reports that as of last figures the National lamb slaughter remained steady (-0.5%) to 419,913 head
Read more in MLA’s Weekly cattle and sheep market wrap
Some light on the horizon for domestic markets is that there is still a lot of uncertainty in certain export markets. The Middle East accounts for approximately 19.4% of Australian lamb exports and there was a significant shift for lamb exports into the Middle East due to the ongoing war. Lamb exports to the UAE fell sharply in March and sit 55% below the five-year average. As the year progresses, the extent to which MENA demand recovers will be a key factor in determining lamb availability in the domestic market.
PORK
The appetiser – what the market means for foodservice
Rising beef and lamb prices have made pork an attractive offering, increasing demand domestically.
The mains
All raw pork supplied to our foodservice customers is Australian. However, at a broader level Australia is heavily reliant on pork imports for its domestic demand and with African Swine Flu affecting production through parts of Europe, our imports decreased 6.6% compared to last year while at the same time Australian exports were increasing at the tail end of 2025.
Another factor driving domestic demand is the shift to pork as a cheaper alternative to beef and lamb, both in retail and foodservice capacities. Australians are eating more pork and that is set to increase in 2026; pork is now the 2nd most-consumed protein.
These demand factors will in turn will cause prices to rise for Australian pork, though not quite to the same extent as beef or lamb.
Disclaimer: The information contained in this blog is provided for general informational purposes only. While Andrews Meat Industries has exercised reasonable care, skill and diligence in its preparation, many factors — including environmental and seasonal conditions — can impact its accuracy and currency. For tailored advice relating to your business, please contact your Andrews Meat Industries sales representative.
