Cat­tle prices lower than last year

The Northern Star - Northern New South Wales Rural Weekly - - News -

FOR the first time in three years, Aus­tralian cat­tle prices are now lower than year-ago lev­els, and pro­duc­tion is higher, re­sult­ing in down­ward pres­sure on the mar­ket that is ex­pected to con­tinue through­out 2017.

This is one of a num­ber of re­vi­sions to 2017 pro­jec­tions in­cluded in Meat & Live­stock Aus­tralia’s (MLA) mid-year cat­tle in­dus­try up­date, made as a re­sult of fac­tors in­clud­ing a poor July-Septem­ber rain­fall out­look for south­ern Aus­tralia fol­low­ing the dry au­tumn, 20-year low fe­male slaughter and a volatile global mar­ket.

MLA’s Man­ager of Mar­ket In­for­ma­tion Ben Thomas said the turn­ing point for Aus­tralian beef came in June when eastern states’ slaughter con­sis­tently tracked higher than year-ago lev­els for the first time since 2014, while at the same time, cat­tle prices dropped be­low year-ago lev­els, also for the first time in three years.

“Th­ese trends are likely to re­main in place for the re­main­der of 2017 and have a sig­nif­i­cant im­pact on price and pro­duc­tion ex­pec­ta­tions,” Mr Thomas said.

“It has been a good run for prices.”

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