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Australian livestock Industry Price Collapse
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<blockquote data-quote="EasyNewz" data-source="post: 8967759" data-attributes="member: 175214"><p><em>This was on the free Easy Newz App last week. Have to click the link from your mobile (</em><a href="https://thefarmingforum.co.uk/index.php?threads/australian-livestock-industry-price-collapse.397215/" target="_blank"><em>app story here</em></a><em>)</em></p><p></p><p>Dry weather is forcing Australian livestock producers to shrink their herd. </p><p></p><p>Agriculture is once again booming in Australia. Canberra and Beijing have reconciled, opening up the world’s largest commodity market. Australian producers responded with record crops and an increased livestock herd.</p><p></p><p><em>According to 2023 projections from Meat and Livestock Australia (MLA), the national sheep flock was expected to grow to its highest level since 2007, climbing to 78.75m head. MLA also projected record lamb production. The national cattle herd was projected to reach its highest level since 2014, at 28.7m head.</em></p><p></p><p>The cycle reverses as producers prepare for El Niño and lower supplies. Analysts expect all crop production will fall back toward its 10-year average and more than 30% below a year ago. Animal prices have been falling as slaughter rates pick up.</p><p></p><p><em>Smith says the price for young cattle, measured through the eastern young cattle indicator, had dropped 50% since the start of 2023 while slaughter rates remained high, suggesting people are not restocking their herds.</em></p><p></p><p>Live and feeder cattle futures have been resilient, making new highs recently. Speculators were net long more than 15% of open interest in feeder cattle and nearly 25% of live cattle futures. The global cattle market remains tight, and weather will drive production decisions for the US, Brazil, and Australia in the months ahead.</p></blockquote><p></p>
[QUOTE="EasyNewz, post: 8967759, member: 175214"] [I]This was on the free Easy Newz App last week. Have to click the link from your mobile ([/I][URL='https://thefarmingforum.co.uk/index.php?threads/australian-livestock-industry-price-collapse.397215/'][I]app story here[/I][/URL][I])[/I] Dry weather is forcing Australian livestock producers to shrink their herd. Agriculture is once again booming in Australia. Canberra and Beijing have reconciled, opening up the world’s largest commodity market. Australian producers responded with record crops and an increased livestock herd. [I]According to 2023 projections from Meat and Livestock Australia (MLA), the national sheep flock was expected to grow to its highest level since 2007, climbing to 78.75m head. MLA also projected record lamb production. The national cattle herd was projected to reach its highest level since 2014, at 28.7m head.[/I] The cycle reverses as producers prepare for El Niño and lower supplies. Analysts expect all crop production will fall back toward its 10-year average and more than 30% below a year ago. Animal prices have been falling as slaughter rates pick up. [I]Smith says the price for young cattle, measured through the eastern young cattle indicator, had dropped 50% since the start of 2023 while slaughter rates remained high, suggesting people are not restocking their herds.[/I] Live and feeder cattle futures have been resilient, making new highs recently. Speculators were net long more than 15% of open interest in feeder cattle and nearly 25% of live cattle futures. The global cattle market remains tight, and weather will drive production decisions for the US, Brazil, and Australia in the months ahead. [/QUOTE]
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