Beef Prices To Rise 5 Per Cent In 2011
AUSTRALIA - The latest monthly NAB Rural Commodities Wrap predicts the value of Eastern Young Cattle Indicator (EYCI) to increase five per cent year-on-year in 2011.
31 March 2011
1 minute read
The EYCI has consistently stayed around or above the 400¢/kg mark in 2011, with an all-time high of 424.5¢/kg cwt reached during the past week
According to the report, falling herd numbers and continued demand for exports will underpin this increase in beef prices. Although the A$ is now at record post-float levels and is being tipped to possibly increase, the decline in global beef supplies combined with robust international demand is expected to offset the pressure on the export market.
Domestically, competition from all sectors is set to remain fierce, as a result of the much better season in eastern Australia. With plenty of water and feed available in most regions, the pursuit of cattle will be driven by restockers, maintaining pressure upon the EYCI.
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