Drought impacts Australian beef prices

THE LATEST global beef report from Rabobank identifies several key factors for Australian producers to watch that may effect the world’s beef trade throughout the rest of the year.

Drought impacts Australian beef prices Drought impacts Australian beef prices Drought impacts Australian beef prices Drought impacts Australian beef prices Drought impacts Australian beef prices

Rabobank senior animal proteins analyst Angus Gidley-Baird said the potential impact posed by the growing US beef supply is bigger now, given the dry conditions and increased slaughter numbers here in Australia.

"Any downward pressure on US prices from increased protein supplies will have an impact on US demand and the price they are willing to pay for Australian beef, all at a time when there could be more Australian cattle coming onto the market (due to) worsening drought pressures," Gidley-Baird said.

The Rabobank report said US beef production is currently up by 3 per cent, with similar growth expected in 2019.

The senior animal proteins analyst said while this is less than the 5% growth anticipated earlier in the year, the risk of US cow herd liquidation ...

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