Australian cattle prices decline

- Last updated on GMT

Related tags: Japan, Beef

Cattle prices in Australia have rapidly declined due to a number of factors, including the season, the high Australian dollar, and subdued demand in some key export markets, according to the recently-released Rabobank Beef Quarterly report.

According to the report, Australian prices will likely remain under pressure for much of the third quarter, before seeing some improvement towards the end of the current quarter as Russia and Korea once again begin to buy increased volumes as current stock levels decline. The report’s authors said that a number of factors are behind the decline in Australian cattle prices which brought heavy steers down from AU$3.50 per kg at the end of March to AU$3per kg by late June.

The report revealed that another factor has been the subdued demand out of Japan which has been impacted by the tsunami and strong competition from the US. The government’s decision to suspend live exports to Indonesia in June following reports of mistreatment of Australian cattle in Indonesian processing plants also brought uncertainty to cattle producers.

Related topics: Markets

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