Little Christmas Cheer For Cattle Producers
AUSTRALIA - Cattle producers will be asking Santa for rain, a recovery in export demand and a falling A$ for 2010, as cattle prices have ended the year 15 per cent below a year ago and averaged five per cent lower than 2008 for the year. While 2009 initially brought a patchy improvement in seasonal conditions, the majority of Queensland and New South Wales have rapidly fallen back into severe drought.
18 December 2009
1 minute read
With the northern monsoon commencing, the Australian dollar back below 90US¢ and the prospect of tighter supplies in the New Year, prices could start 2010 a little higher. However, processors have indicated that, given the current depressed export demand and prices, they will cut shifts or remain closed for longer rather than operate at a loss – effectively capping the price response to any widespread rains, says Meat and Livestock Australia.
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