The 2014-15 financial year was a significant one for the Australian red meat industry. The volume of beef and lamb produced, meat exports and live exports reached their highest point ever – all against a backdrop of rising prices.
So how does this translate into overall industry value?
MLA estimates that the total off-farm value of the beef industry in 2014-15 was approximately $18.2 billion, up 20% compared to the previous financial year. This includes the total value of the domestic market, meat exports and live exports, with the breakdowns as follows:
The total off-farm value of the sheepmeat industry in 2014-15 was approximately $5 billion, up 13% year-on-year.
Adding further value to the supply chain last year, the combined value of Australian co-product exports (hide, skin, offal and rendered product) exports was $2.4 billion, up 4% year-on-year, driven by higher kills and assisted by the weaker A$.