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Beef oversupply hold backs AACo
11 Aug 2006
Australian Agricultural Company said an oversupply of cattle contributed to a fall in profit in the first half of the year. AACo said an extended wet season in northern Australia helped production. AACo said that the re-entry of US beef into the Japanese market unsettled beef exports in recent months, but that importers now expected to buy only small volumes from the US. As a result, AACo expects to recover sales of beef to Japan.
The Age, 11/08/06
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