May 22, 2008

Australian beef producers forecast to have a good 2009
 

Livestock farmers should enjoy improved conditions next financial year as the average sale yard price of cattle meat is forecast to rise 7 percent in 2009, according to a report released by the Australian Bureau of Agricultural and Resource Economics (ABARE).

Exports of live cattle are also expected to increase in 2009 due to rising demand from Southeast Asian markets.

Despite the positive outlook, Australian beef producers are facing a challenge - the US is about to export beef again to Japan and South Korea, two of Australia's biggest beef export markets.

Australian beef producers also face the challenge of a strong currency that lowers the competitiveness of Australian agricultural products in the global market.

In addition, the outlook for Australian grain in 2009 is also positive.