'Downward pressure' on Australia’s cattle market - leatherbiz: Leading Leatherbiz

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'Downward pressure' on Australia’s cattle market

18/07/2017
Australia’s cattle prices have fallen below levels last year while production is higher, putting downward pressure on the market, according to Meat & Livestock Australia (MLA).

The industry association has revised 2017 predictions due to a poor rainfall outlook for southern Australia, 20-year low female slaughter and volatile global market activity.

MLA manager of market information Ben Thomas said: “These trends are likely to remain in place for the remainder of 2017 and have a significant impact on price and production expectations.”

The forecast 2% year-on-year rise in Australian beef production for 2017 should see exports match the 1.02 million tonnes shipped in 2016. This would result in the fifth consecutive year above one million tonnes exported.

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