Beef And Veal Exports Set To Fall
AUSTRALIA - Meat and Livestock Australia (MLA) states that Australian beef and veal exports are expected to fall 1.8 per cent year-on-year in 2011-12, to around 920,000 tonnes swt, according to the latest Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) Agricultural Commodities report.
22 September 2011
1 minute read
MLA states that ABARES expects the fall in overall export volumes will result from lower shipments to Japan and historically low exports to the US.
Exports to Japan in 2011-12 are forecast to total 325,000 tonnes swt, falling 7.4 per cent on year ago levels.
The report highlights the high A$, subdued demand and increased competition from the US as the driving factors behind the fall in shipments. Exports to the US are expected to remain stable year-on-year, to 160,000 tonnes swt, despite the strong A$ and high US beef production.
Continuing restocker demand in 2011-12 is expected to maintain upward pressure on young cattle prices, although prices for other categories are expected to average lower over the same period due to subdued demand from the major beef export markets. As a result, average weighted saleyard prices are forecast to fall four per cent year-on-year, to 310¢/kg dwt in 2011-12.
MLA reports that the national cattle herd is estimated to reach 28 million head in 2011-12, up 2.2 per cent year-on-year, as a result of favourable pasture growth and increased water availability.
Slaughter levels are expected to fall by 1.1 per cent year-on-year, to eight million head, due to restocking efforts, subdued export demand and lower prices.
TheCattleSite News Desk
