June 18, 2014

Australia raises beef export forecast due to dry conditions

Australia raised its forecast for beef exports in the 2014/15 marketing year by nearly 8% as farmers continue to slaughter livestock at a near-record pace due to dry conditions spreading across the east coast.

Beef exports from Australia, the world's third largest exporter, are expected to total 1.12 million tonnes this season, up from a previous estimate of 1.04 million tonnes, the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES), the government's official commodities forecaster said on Tuesday.