|
|
|
Prices up as beef market digests US woes
19 Jan 2004
Australian cattle producers are starting to reap some gains from the BSE scare in the US, Australia's main beef export rival. Meat and Livestock Australia says prices are "on the boil", with demand increasing for export category cattle.
Strong demand is also coming from producers wanting to restock, domestic feedlots and supermarket buyers. Although saleyards have not yet returned to full activity following the holiday break, nearly all the key national price indicators reported slight gains last week.
But MLA also commented on the disruption and uncertainty that the drop in demand for US beef has caused in world markets. In Japan, there's a wide range of pricing for Australian beef due to uncertainty. In South Korea, prices - which initially rose by 40 per cent - are starting to fall away as consumers turn away from imported beef due to concerns about BSE and supply shortages.
Australian Financial Review, 19/1/04.
|
|
