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Beef prices and profits fall
16 Dec 2005
Australian Agricultural Co announced yesterday that low cattle prices would cut the company's after-tax profit by $10 million this year. AAC is Australia’s largest beef producer and was taken by surprise when Japan lifted its import ban on US beef last week. International cattle prices have fallen from $4.17 per kilogram in August to $3.70 per kilogram.
The Australian 16/12/05
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