Australia to increase its beef production by 7%
Drought and female turn-off are the main reasons that led to a revised upwards forecast for Australia's cattle slaughter (+9%)
7.8 million head are going to be slaughtered this year due to harsh weather condition, informs Meat and Livestock Australia (MLA), leading the beef production to 2.3 million tonnes carcase weight (+7%).
For the first five months of 2018, Australian adult cattle slaughter totalled 3.1 million head – an increase of 11%, or 300,000 head, from the same period last year, although 7% below the five-year average.
Females have largely driven the year-on-year increase, with a 21% rise in the number of cows and heifers processed, and a modest 2% lift in male cattle slaughter. "Female cattle slaughter in May almost reached 403,200 head – the highest monthly volume since July 2015. Persistent dry conditions have seen the average national adult carcase weight forecast for the 2018 calendar year revised downwards, to 292kg/head. However, the upwards revision to slaughter more than outweighs the expected drop in carcase weights, with beef production for 2018 now forecast to increase 7% to 2.3 million cwt", explained MLA Market Intelligence Manager, Scott Tolmie.
Despite the high supply of beef expected this year, the prices on the domestic market can remain still as the external markets, especially Asian ones increased their demand for Aussie beef. "Demand in these markets has held firm in the face of increased product coming from both Australia and the United States. The flow-on for producers domestically has been continued price-support for finished cattle, cows and feeder suitable cattle. Australian beef exports are up 13% for the year-to-date (January to June) with key markets, such as Japan, Korea and China, recording double-digit growth. Australian beef exports are now forecast to increase by 10% in 2018, to 1.11 million tonnes shipped weight", added Tolmie. Live cattle exports have also increased over the past six months, lifting 23% year-on-year to 487,000 head.
(Photo source: Research Gate)
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