AUSTRALIA - Cattle turnoff for the remainder of 2014-15 is pegged to remain high, with slaughter and live exports forecast to reach 10.35 million head, back slightly from 2013-14, according to ABARES’ Agricultural commodities: December quarter 2014.
Meat and Livestock Australia said that for the first four months of the financial year, over 3.6 million head of cattle have been processed and 406,502 head of live export cattle shipped, and, with BOM forecasting another hot, dry summer, a turnoff of more than 10 million head seems likely.
Beef and veal exports, in 2014-15, are expected to remain steady year-on-year at 1.18 million tonnes.
In particular, ABARES forecast export demand to be driven by the US, with 360,000 tonnes swt to be exported during 2014-15, up 35 per cent year-on-year and an increase in market share from 22 per cent to 31 per cent.
Meanwhile, ABARES forecast exports to Japan and China to contract slightly, back four per cent and 19 per cent, and shipments to Korea to grow one per cent year-on-year.
While turnoff is likely to remain high, ABARES are forecasting the weighted average 2014-15 saleyard cattle price to improve 12 per cent year-on-year on the back of strong export demand and a return to normal seasonal conditions mid-2015.
TheMeatSite News Desk