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MARKET SNAPSHOT

  • Clara Leung
  • Jun 25
  • 3 min read

Thursday, 25 June 2026


Latest meat market conditions


BEEF


 The appetiser – what the market means for foodservice

Global supply conditions continue to be the dominant feature of the beef market and it remains unclear as to what extent that will impact domestic supply in the short to medium term. Some opportunistic buys are present in the domestic market: be sure to keep an eye on the AMI Specials email coming into your inbox or any specials from your Andrews Meat sales rep that might arise.


The mains

The main thing the beef supply chain will be looking at is how international trade flows will impact beef prices and supply, especially now that Australia has hit the import quota for China. The Chinese 205,000 tonne quota was reached on the 19 June which means any Australian beef entering China will now be hit with an additional 55% tariff. Only offal (tongue, intestines, heart etc.) is still able to enter China tariff-free.



Meanwhile, the tightening in Northern cattle supplies caught the market a little off guard. On the one hand that Queensland producers have held back cattle, when combined with southern processors who have moved further up from northern NSW to find suitable slaughter cattle to fill their seasonal supply gap over winter, a circumstance arose that has contributed to the lift in cattle values since mid-May.


According to Elders, there are different reasons behind the slowing supply out of Queensland:

  • It hasn’t become cold yet;

  • There were cattle brought forward and killed early at 120 to 130 days off feed (rather than the normal 150-day program) to ensure they get in under the China quota which has left a bit of a gap in supply;

  • The high cost of restocker cattle may be encouraging Queensland graziers to hold and feed to heavier weights;

  • The gap between feeders and bullocks may have gotten too tight;

  • Producers holding to sell in July in order to manage tax bills.


  • Read more in Elders’ Cattle market outlook winter 2026


Korea’s safeguard is also looming and expected to trigger in mid to late July, the earliest on record. Once their safeguard is triggered, the tariff on Australian beef will rise from 5.3% to 24% for the remainder of 2026.



LAMB

 

The appetiser – what the market means for foodservice

Domestic lamb prices remain steady as we head into the months of seasonally lower lamb availability. Lamb availability is looking to pick up again once spring comes around.

 

The mains

The mains

While lamb supply has remained constrained for now, and will continue to remain so until spring, this year’s spring supply is expected to improve on last year. The strength of the season is being relished across a large swathe of lamb producing regions in southern Australia, and despite lower overall flock numbers, indicators are suggesting that lamb supply should “start to recover seasonally about a month earlier than normal”.



Until then, the Trade Lamb indicator is still hitting record highs (up to 1,228c/kg cwt) as processors continue to compete for tightening supply.




LOOKING AHEAD

Temporary fuel excise extended till 31 July 2026

The Australian government is set to extend the fuel excise till the start of August, albeit at a lower rate. Currently the fuel excise sits at 32c per litre, but that rate was originally announced to end at the end of June. However, the government confirmed over the weekend that the fuel excise reduction would be extended, and at a lower rate again of 16c per litre




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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