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Meat output rises despite the drought
6 Sep 2004
Despite more than 60 per cent of Australia's farmland still being drought-declared, the meat industry's output is rising, with beef exports soaring and lamb production set to reach record highs next year. But live exports have plummeted 34 per cent in the first half of this year as farmers rebuild their herds and flocks.
The Cattle Council said the positive outlook is reflected in high prices for properties and herd restocking. Beef production in July was up 11 per cent on last year to a record 185,336 tonnes. The value of exports to Japan for the seven months to July was up 60 per cent on the same period last year to $1.27 billion, while near-record volumes are being shipped to the US.
Meat and Livestock Australia said although lamb prices are high at the moment they're expected to ease in coming years - but demand will remain strong. MLA said the rebuilding of the sheep flock has pushed to number of breeding ewes to critically low levels, so lamb production won't rise as quickly as hoped. Output should still rise by about 8 per cent a year, however, reaching record levels in 2005. Main demand growth is still expected to be in North America and Asia.
Australian Financial Review, 6/9/04.
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