Beef prices to continue to increase

Former Paraway Pastoral director, Tim Hornibrook commented that “despite cattle slaughter numbers in Australia being higher again in 2014 than 2013’s record slaughter rate, Australian cattle prices should continue to increase in 2014/15”.

Tim Hornibrook commented that the YOY increase in slaughter rates has been fuelled by the ongoing drought in Northern Australia.  Mr. Hornibrook added that Meat and Livestock Australia expects that “with cattle slaughter, and subsequent beef production, likely to remain high for the remainder of the year, the Australian beef production record is likely to reach a new high in 2014.”

Tim Hornibrook caveated his view on price by saying that while he “believes that Australian beef prices will continue to strengthen over the next 12 months, his view is dependent on a return of the wet season in Northern Australia and more normal rainfall in the southern regions”.

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