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MARKET SNAPSHOT

  • Clara Leung
  • Jul 23
  • 3 min read

Thursday, 23 July 2026


Latest meat market conditions


BEEF


The appetiser – what the market means for foodservice

Changes are already occurring across the domestic processing sector in response to the China quota being exhausted and the approaching South Korean safeguard quota. As processors adjust to changing export conditions, this is creating opportunities in the domestic market. Keep an eye on the AMI Specials email coming into your inbox or any specials from your Andrews Meat sales representative that might arise.


The mains

China's tariff quota on major beef exporters created a strong incentive for exporters to get product into the market before quota limits were reached. As a result, Australia exported 805,000 tonnes of beef between January and June 2026 — 103,000 tonnes more than the previous record set in 2025, and the highest first-half export volume since 2000.

 

 

Meanwhile, cattle destined for feedlots remain in high demand, with restockers and feedlots competing for younger cattle. China heavily favours Australian grainfed beef, so feedlots are purchasing cattle now to finish them around the new year, when China's tariff is expected to restart.

 

 

Across the sea, the US remains the key destination for exported beef, and Australia is their second largest source of beef, with Brazil being the largest supplier. Demand for beef in the US will only continue to grow, as their production and herd levels continue to decline. Experts predict that the US cattle numbers will remain tight into 2027 and likely into 2028.

 

 


LAMB

 

The appetiser – what the market means for foodservice

Domestic lamb prices remain stable, with no significant changes anticipated in the short to medium term. While lamb availability is expected to be tighter, please let your Andrews Meat sales representative know if you anticipate any large orders coming through in the next 4–6 weeks.

 

The mains

Earlier last week, the US announced that it would launch a safeguard investigation into their lamb imports and determine whether increased imports have affected the US sheep industry and whether any trade measures (such as additional tariffs) should be considered.

 

The investigation covers fresh, chilled and frozen lamb meat from all countries and does not single out Australia. Australia is the largest supplier of lamb into the US, having sent over 43,000 tonnes to the US as of June 2026 – even with the current 10% tariff.

 

 

On the producer’s side, there is far more optimism thanks to improved seasonal conditions driven by widespread rainfall across southern Australia. Producers are “increasingly looking at opportunities to retain stock, rebuild breeding capacity and position themselves for future production” which is likely to lead to a shorter spring supply for lamb and sheep this year.

 

 

Lamb prices at the saleyards remain elevated due to the following reasons:

 

 Supply availability and processor capacity are expected to remain the primary drivers of lamb prices for the remainder of the year.

 


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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