MARKET SNAPSHOT | 30 OCT 2026
Friday, 30 October 2026
Latest meat market conditions
BEEF
The appetiser – what the market means for foodservice
Currently no changes in the short-medium term for beef prices in the domestic foodservice market, even with the continued pricing and availability differences in northern and southern beef.
Demand for beef is starting to pick up in the international markets as requirements increase from the US alongside renewed buying from China and South Korea ahead of their 1 Jan 2027 quota resets, increasing competition for Australian beef.
The mains
Victoria holds approximately 11% of Australia’s cattle herd but accounts for around 18% of national cattle processing. This means southern processing plants often rely on cattle transported from northern production regions, and have particularly done so for most of 2026.
Higher diesel prices are widening the difference between northern and southern cattle markets however, with some livestock freight costs reaching approximately $300 per head for cows.
The average difference between Queensland and Victorian cow prices was 30c/kg in the months leading up to the 28 February strikes on Iran, and it’s moved to around 50c/kg liveweight since. Premium brands from Australia’s southern regions may remain tight or attract higher prices, even when cattle availability is more comfortable nationally.
Read more in Elder’s Weekly market summary
On the international front, the United States remains a crucial destination for Australian beef. Year to date, Australian beef exports to the US reached approximately 410,000 tonnes, an increase of 15% on the same time period in 2025.
The US has now overtaken Australia’s domestic market as the largest destination for Australian beef. Some analysts expect full-year export volumes to the US to reach a record 460,000 - 480,000 tonnes.
International market sentiment improved during this month, with Chinese and South Korean buyers purchasing ahead of the reset of their safeguard quotas on 1 January 2027. As the quota reset approaches, demand from China and South Korea will continue to strengthen and draw more Australian beef onto export channels.
Read more from Beef Central
LAMB
The appetiser – what the market means for foodservice
Lamb availability remains tight, with saleyard volumes declining across much of the eastern seaboard during 2025/26. Supply is expected to improve in November as better seasonal conditions help move more lambs through the system.
The mains
According to Stuart Bull, Market Information Manager at Meat & Livestock Australia (MLA), Australian lamb prices remain historically high as the national lamb flock sits at its lowest level in approximately 100 years.
“Lamb availability is tight because Australia’s sheep flock has contracted after several years of heavy turn-off, drought and poor seasonal conditions in key southern regions,” Bull explained.
The latest 2025-26 Saleyard Survey from MLA shows that all states, with the exception of Western Australia, recorded a decrease in the number of sheep and lamb available at saleyards this year as compared to last year.
NSW: decreased by 7%
VIC: decreased by 25%
SA: decreased by 25%
MLA expects lamb slaughter to decline by more than 10% in 2026, reflecting both the reduced number of lambs available and producers retaining more lambs to rebuild their flocks.
While the usual seasonal increase in lamb numbers may provide some price relief over summer, the underlying shortage of sheep and strong international demand means pricing is expected to remain tight.
Read more on 9News
Read more at MLA
Read more in Elder’s Latest sheep market update
LOOKING AHEAD
Fuel volatility adds pressure across the supply chain
While seasonal conditions are still the main driver for supply and availability, global diesel prices have increased operating costs for producers, feedlots and processors.
Any reductions in saleyard prices therefore may not flow directly or immediately into wholesale protein prices. Livestock is only one component of the final cost, and fuel volatility continues to place further pressure on already tight margins throughout the supply chain.
Read more at MLA
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.
