Australian cattle prices hit record high
The group, owns a cattle-fattening property known as Woodlands in Southern Queensland and has a 34.37% stake in the North Australian Pastoral Company Pty (NAPCo), one of the biggest cattle companies in Australia.
Woodland, which is 31,000 hectares, has enjoyed an “excellent season” to date and is planning to increase the current herd of 8,000 to over 10,000 head of cattle, the company said.
NAPCo, which owns 5.8m hectares of land in the Northern Territory and Queensland, has a normal carrying capacity of some 200,000 head.
In a statement, MP Evans said: “Most of the NAPCo properties had a good start to the season, although some are now in need of follow-up rain.”
In April, the Meat & Livestock Australia’s quarterly update revealed that cattle prices were trading well with the Eastern Young Cattle Indicator (EYCI) averaging 427c per KG spurred on by three months of positive rainfall. It also stated that prices would continue to be affected by the amount of rainfall during the next three months.