What’s Happening?
The Australian goat industry is experiencing record-breaking growth, with 2024 marking a milestone for red meat exports.
The latest episode of Unpacking Ag, the Bendigo Bank Agribusiness podcast, dives into the factors behind this surge.
Agricultural Analysts Sean Hickey and Joe Boyle break down the numbers, revealing a sharp rise in goat meat production, shifting producer trends, and strengthening global demand.
Why It Matters?
Goat meat has quietly become a significant player in Australia’s agricultural exports, yet domestic consumption remains relatively low.
With production booming and demand from key markets like the United States soaring, the industry is adapting to new economic and environmental conditions. This shift highlights the resilience of goat farming, particularly in regions where traditional livestock struggles.
Local Impact
Many Australian graziers are diversifying into goat farming due to its suitability for drier conditions.
The increase in processing capacity is not only boosting exports but also creating new opportunities for rural businesses. With domestic consumption doubling in the past five years, there’s potential for further growth in local markets.
By the Numbers
- 40% growth: Goat meat exports surged by 40% in 2024, helping set a record for Australian red meat exports.
- 2.9 million goats processed: This marks a 40% year-on-year increase, the highest on record.
- 51,489 tonnes exported: Australia’s goat meat exports in 2024 were more than 50% higher than the previous year and 44% above the 2014 record.
Zoom In
Joe Boyle, Agricultural Analyst at Bendigo Bank, explains the rapid growth:“Australia processed 2.9 million goats in 2024, up more than 40 per cent year-on-year, a record for the industry, with improved seasonal conditions and increased processing capacity accounting for the surge.”
Producers are shifting towards goat farming as a viable alternative to cattle and sheep in marginal grazing areas. Boyle notes: “The growth in production has also been attributed in part to a shift away from cattle and sheep in some of the more marginal grazing areas, with growers diversifying their operations into goats, given their hardiness and ability to perform in drier or less favourable conditions.”
Zoom Out
Australia now accounts for 35% of global goat meat exports, yet less than 10% of the meat stays within the country. The United States is Australia’s largest export market, taking in roughly half of all exports.
Boyle adds: “People are often surprised to learn that the US is Australia’s major export market for goat meat, accounting for roughly half Australia’s total exports with a 90 per cent lift last year.”
“Excluding China, export markets were really strong, recording year-on-year growth in 2024 with Australia exporting a record 51,489 tonnes of goat meat last year, up more than 50 per cent year-on-year.”
What To Look For Next?
The strong start to 2025 suggests sustained growth, but industry experts are watching to see if these production levels become the new normal.
Boyle highlights early indicators:“2025 is off to a strong start for the industry. The first full operating week of the year saw a record 76,000 head processed. We expect supply pressure to stay at a heightened level for the next few months, but it remains to be seen if these production levels amount to a new normal, or if they will start to ease.”
With rising demand and favourable pricing, the Australian goat industry is positioned for continued expansion—both in exports and local markets.
