AUSTRALIA, North Sydney. Meat & Livestock Australia’s (MLA) 2015 cattle industry projections quarterly update suggests that the ongoing strength of cattle prices will be directly impacted by the country’s weather conditions in the next three months.
Following higher than expected cattle slaughter across the eastern states during the first quarter of 2015, the national adult kill has now been revised up 400,000 head to 8.2 mill. This was still 11% below last year’s three decade high cattle kill. It results in the rare sequence of three consecutive years with more than eight million adult cattle killed.
International demand for Australian beef for the remainder of the year is set to continue with the same intensity as the first quarter and exports are forecast to reach 1.15 mill. t slaughter weight, back 11% year-on-year, but still the third consecutive year over one million t swt.
After three months, beef exports are up 8% year-on-year, at 297,000 t swt, with the US comfortably the largest market, accounting for 36% of volume, followed by Japan (23%), Korea (12%) and China (9%).