November 19, 2003

Beef Producers in Australia To Benefit From Higher Beef Prices

Most beef producers in Australia are likely to benefit from higher beef prices in 2003-04, assuming seasonal conditions back to normal, ABARE (Australian Bureau of Agricultural and Resource Economics) reports.

ABARE executive director, Dr Brian Fisher, told the regional OUTLOOK conference in Darwin that full recovery could take some time for livestock producers that were forced to reduce animal numbers during last year's poor season.

Dr Fisher said the recovery could be slowed because of the need to hold stock back from sale for breeding.

ABARE's annual survey of farms in the Northern Territory, is expected to highlight the drought's effect on beef producing farms over much of the Territory.

Dr Fisher said the stronger dollar was not helping the Territory's live cattle exports.