The Dust’s Gone, But The Cattle Gloom Continues
AUSTRALIA - The dust storm and rising dollar highlighted another extraordinary week on the climate and economic fronts.
25 September 2009
1 minute read
The high and rising Australian dollar and continued weak Japanese demand kept cattle markets falling – with the largest falls for export categories in Victoria and South Australia. September is often associated with the seasonal peak in cattle values, but not this year, with prices now 11 per cent below last year for young cattle categories and 16-18 per cent lower for export stock.
The rain through Victoria and southern New South Wales, and low prices, saw cattle yardings fall a further 10 per cent this week, to 27 per cent below a year ago. However, this is being matched by cuts in processor activity and weak restocker and feeder demand. With prospects for any short term relief from a falling A$ remote, a pick up in Japanese demand seems the key to reversing the current cattle trend.
TheCattleSite News Desk
