Australia has biggest cattle herd since 1977
20/07/2012
As reported on leatherbiz on July 19, a new report from the Organisation for Economic Co-operation and Development and the United Nations’ Food and Agriculture Organisation predicts that global meat consumption will rise by 11% over the next decade. Chicken will meet much of that demand, but beef consumption will remain strong in spite of increases in price.
MLA’s chief economist, Tim McRae, has said his organisation puts the increase in the Australian cattle herd at 3.8% since the middle of last year, putting the total at 29.6 million head, the highest level since 1977. Australian adult cattle slaughter is expected to expand towards eight million head by 2014, he added.
“Despite the global economic gloom and the high Aussie dollar our projections forecast beef and veal exports to reach 960,000 tonnes in 2012, up 1% on last year,” Mr McRae continued. “But recently we've seen that for every step forward in demand for beef, it then takes a step back. Every time these steps seem to favour cheaper prices as consumers continue to ‘trade down’ in their purchasing preferences. However, one key factor remains unaltered: the decline in global beef production. We're one of few global beef players with an expanding cattle herd. We can help supply the growing millions of global consumers who are after delicious high quality beef.”
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