June 11, 2015

Australian cattle prices hit record high on Asian demand

Prices of Australian beef cattle are trading at record levels following strong demand particularly from Asia, cattle owning company MP Evans said at its annual general meeting in London last week.

MP Evans owns a cattle-fattening property known as Woodlands in Southern Queensland and has a 34.37% stake in the North Australian Pastoral Company Pty (NAPCo), one of the largest cattle companies in Australia. NAPCo owns 5.8 million hectares of land in the Northern Territory and Queensland, and has a normal carrying capacity of some 200,000 head.

Woodland, at 31,000 hectares, is planning to expand the current herd of 8,000 to over 10,000.

MP Evans said, "Most of the NAPCo properties had a good start to the season, although some are now in need of follow-up rain."