Lamb exports for February fell barely year-on-year, but it surely was nonetheless the very best quantity month since final June. Complete year-to-date lamb exports are sitting 16% above the five-year-average for the interval. Lamb despatched to the US was about 15% decrease than February 2025, and year-to-date it was again 10% – however US consumption for February remained 5% above the five-year-average. All different nations within the prime 5 markets by way of quantity elevated final month, from 5% for China to 37% for the UK. These two locations, together with South Korea, have additionally considerably elevated their consumption of Australian lamb for the year-to-date.
Produce from Australia had made up greater than 70% of all US lamb imports for the yr to mid-February, regardless of year-on-year volumes being decrease. The US market share is at 25% for the year-to-date, which is on par with 2025. In accordance with Steiner Consulting’s newest US Lamb Market Replace for Meat & Livestock Australia launched late final month, the shortfall of lamb within the US isn’t going anyplace. US customers of lamb will depend on imports greater than ever in 2026 and 2027 as their home sheep numbers fell under 5 million head for the primary time ever this yr, and substitute lamb numbers are falling quicker than total flock figures, leaving restricted scope for future progress.
Costs for imported lamb within the US aren’t formally reported, however Steiner quotes them as “broadly up by double digits” year-on-year. Nevertheless, they’re additionally reporting extra demand shifting to lower-cost cuts within the face of rising costs. To place present prices into some perspective, the Nationwide Heavy Lamb Indicator closed final week at 1094¢/kg. Final time the Australian greenback was at its present stage, that worth was 744¢/kg – 32% decrease. And that’s with no tariff.
