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Beef exports surge following US mad-cow scare
15 Jun 2004
Australian beef exports to Asia are continuing to increase in the wake of the BSE scare in the US last year. Australian producers are now claiming 90 per cent of the Japanese market, despite total consumption there falling by a third since the ban on US beef imports was imposed in December. Meat and Livestock Australia said beef exports to Japan in the five months to May were 31 per cent higher than last year. Over the same period, exports rose 39 per cent to South Korea, which extended its ban on US beef last week.
The Cattle Council of Australia said it's unclear how long the bans will last, and until recent weeks Australian producers haven't seen this ban flow back in terms of higher prices. However the weakening $AUD has seen local cattle prices rise 10 cents to about 170 cents a kilo liveweight over the past four weeks.
Lamb price rises over the last couple of weeks have been "quite phenomenal", according to the MLA. The price has gone from about 350 cents a kilo carcass weight to last week's prices of around 440 cents, in just three weeks. Demand is strong in Australia and overseas, with Asian markets "particularly encouraging".
Australian Financial Review, 15/6/04.
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