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MARKET SNAPSHOT

  • Clara Leung
  • 24 hours ago
  • 5 min read

Friday, 21 August 2026


Latest meat market conditions


BEEF

The appetiser – what the market means for foodservice

We are anticipating tighter beef supply in the coming weeks, particularly for premium lines with the southern regions of Australia impacted by dryer conditions.


The mains

All cattle prices were turbulent in the final weeks of July as uncertainty around seasonal conditions and the upcoming El Nino, and the impact of the China and South Korea quotas began to affect the saleyards.

 

According to MLA, 85% of cattle supply available last week was from Queensland – highlighting the lack of supply in other states due to ongoing seasonal conditions.

 

Export volumes to China have dropped sharply after Australia reached its quota while Brazil is expected to reach its own China import quota threshold shortly. This combined with Australia also reaching South Korea’s safeguard threshold have resulted in beef exports declining in May and they are currently 8% lower than July 2025 levels.

 

However, volumes to the US continue to perform well, up 8% year-on-year, supported by ongoing tightness in the US cattle herd. Multiple processors in the US have either closed or reduced shifts to compensate for rising costs of their domestic cattle.

 

 

For the South Korean market specifically, the impact of the USA’s reduced processing capacity on top of Korea’s own reduced domestic beef supply, means that their buyers are still expected to absorb some of the out-of-quota rate, similar to their response in 2025. As a result, South Korea’s foodservice sector is likely to continue relying on Australian beef to backfill supply, although product flow may slow.

 

 


LAMB

The appetiser – what the market means for foodservice

Lamb availability remains tight in the short-midterm as processors begin to reopen after the seasonal maintenance periods. Export demand from the USA and China is expected to compete with the domestic market for supply as we head into spring.

 

The mains

Processors are actively managing reduced sheepmeat availability, with national lamb slaughter declining by 13% in the first half of 2026.

 

Supply tightness has pushed the prices of trade lamb higher, but consumer resistance will limit any further price increases in both domestic and export markets. This combination of factors led to processors modifying shifts and slaughter numbers to match lamb availability instead of continually lifting prices.

 

Lamb volumes traditionally start to lift again as we enter spring, which will be needed after the first few weeks of July saw some of the lowest lamb slaughter numbers this year.

 

 

On the export front, the USA and China are major destinations for Australian lamb. In the first six months of 2026, these two destinations combined accounted for 46.6% of Australian lamb export volumes, up from 40% from the same period in 2025.

 

These growth rates are impressive given that overall Australian lamb exports are down 11.1% within that period due to tighter lamb availability and conflict in the MENA region.

 

While tight domestic supply will continue to challenge lamb exports through the second half of the year, a unique opportunity is emerging for China in particular. As China’s safeguard tariffs are triggered or close to triggering on beef imports from Australia and Brazil, Australian lamb and mutton is well positioned to benefit as Chinese consumers begin to look elsewhere to meet their protein needs.

 

USA’s lamb supply, similar to their beef supply, has been heavily impacted by sustained drought conditions. The sharp reduction in supply, coupled with record-high beef prices, has significantly boosted US lamb prices. Prices for Australian lamb in the US have surged higher, in line with their domestic values.

 

The average export unit price for lamb has also jumped sharply over the past two years in response to the uplift in Australian saleyard prices (see below graph). Average export unit price for the first half of 2026 was $12.48/kg, which is 14.4% above the same period in 2025, and 34.7% higher compared to the same period in 2024.


Source: Bendigo Bank August Commodity Update
Source: Bendigo Bank August Commodity Update



CHICKEN

The appetiser - what the market means for foodservice

Biosecurity developments around the H5N1 bird flu are important to watch. For domestic foodservice, there is no immediate impact with no cases have been confirmed in the poultry sector as of 18/08/2026, but precautionary measures across the nation are increasing.

 

The mains

The H5N1 virus has so far been restricted to native bird species, including terns and seagulls, with no cases reported in the poultry sector. However, Australia’s largest poultry supplier, Inghams, has taken a precautionary approach and has expanded the lockdown of its poultry farms to all Australian states as H5N1 cases continue to rise.

 

Victoria has also become the first jurisdiction in Australia to enforce a poultry lockdown. Victorian poultry producers with more than 50 birds in metropolitan Melbourne and selected areas of concern have been ordered to house their birds for an initial 14-day period.




PORK

The appetiser - what the market means for foodservice

Availability in the market means pork prices are dropping for the Australian domestic market. Speak with our sales team to learn more about some of the items we have on special to take advantage of in the coming weeks.

 

The mains

Overall Australian pork export volumes fell by 14.1% when comparing June 2026 period to the same time last year.

 

 

While the Philippines, Papua New Guinea and Malaysia have all increased the volume of Australian pork by 14.8%, 41.6% and 15.1% respectively, that was not enough to make up for the overall lower volumes being exported.

 

As a result, the sector has seen pork carcass prices drop over the past year, making it a good option for menus or weekly specials.

Source: APL Market Reporting
Source: APL Market Reporting



LOOKING AHEAD

Agricultural exports reach all-time record in 2025/26

 Australia’s agricultural exports have marked the highest year on record amounting to $81.4 billion, the first time the sector has surpassed the $80 billion threshold. Much of the growth is attributed to livestock sector, which now accounts for 36.6% of all agricultural export value, with both cattle and sheep meat exports surging to all-time highs.

 

Cattle exports broke records in 2025/26, rising $5 billion (an increase of 27%) to $23.5 billion. Now the cattle sector now holds the mantle as Australia’s most valuable agricultural export sector, officially surpassing cropping.

 


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.

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