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Live cattle head for record, but next year's hopes dim
24 Jun 2003
Live cattle exports are set to achieve a record this financial year, ABARE says. For the 10 months to April 2003, shipments rose to 839,000, a 31 per cent increase on the same period last year. The increase has been due to strong demand from Saudi Arabia, Brunei, Malaysia and Indonesia. But live exports are expected to fall in 2003-2004 due to reduced supplies of suitable stock.
The US tariff rate quota for Australian beef is unlikely to be filled, due to the stronger $AUD and weak demand. Exports to Japan are recovering following a BSE scare and rose 68 per cent in the March 2003 quarter on 2002, but they are still down 19 per cent on the March 2001 quarter.
The recent BSE case in Canada has the potential to affect the global meat trade, particularly in the Pacific Basin. Returns to Australia's beef producers will continue to be hit by the drought until at least Spring.
Average slaughter weights for adult cattle fell 3.4 per cent to around 253 kilograms (dressed weight) in 2002-2003. Saleyard prices for slaughter cattle fell 16 per cent on 2001-2002 to 258 cents per kilogram (dressed weight). Saleyard prices for 2003-2004 are estimated to rise an average 9 per cent to 282 cents per kilogram.
The Age, 24/6/03.
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