The news comes as part of a report into price transparency in the beef supply chain, initiated by the Cattle Council of Australia (CCA). After concerns that there was a lack of price information in the beef value chain, which was affecting marketing and investment decisions by the industry, CCA requested that more options be considered to increase price transparency.
Whereas it acknowledged that there was already a reasonable amount of cattle and beef market information in existence within the country, the report also suggested a range of further initiatives.
MLA managing director Richard Norton accepted CCA’s call for more work to be done to improve price transparency within the sector and to further enhance MLA’s market information services.
‘Committed’ to progress
“MLA currently provides a range of services, including daily red meat market news updates, regional saleyard reports, live export information and price indicators,” explained Norton.
“As a service provider, MLA is committed to continuous improvement in its market reporting and insight services to provide industry with the most comprehensive, timely and professional information.
“Recent improvements include revamping our weekly over-the-hooks (OTH) cattle indicator reports to assist producers and industry to better analyse market trends.”
The report can be found here.