date:Jul 26, 2012
The update takes into account tight cattle supplies faced by the country and looks at the tough economic conditions in the export market, which MLA said continues to put pressure on demand.
Chief economist at MLA Tim McRae said that reduced cow slaughter and solid cattle prices have underpinned herd rebuilding activities in recent years and demand is the main challenge facing the Australian industry. McRae said:While exports of beef and veal in 2012 are forecast to increase 1% to 960,000 tonn