4 March 2009 |
Outlook 2009 – DAY 2 |
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| Meat market to remain strong |
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| Australian prices of beef, lamb and mutton are forecast to remain high in 2009-10 as supplies remain relatively tight, the ABARE Outlook conference heard today. ABARE’s commodity analyst, Sally Fletcher, said cattle producers, particularly in Northern Australia, were set to begin rebuilding herds following recent rains. “Rain in late 2008 and early 2009 is expected to lead to improved pasture conditions in the north, providing an incentive for herd rebuilding,” Miss Fletcher said. Overall demand for Australian beef in export markets was forecast to remain strong, although shipments to Korea were expected to fall as imports from the United States increased. Conditions in the sheep meat industry remain buoyant, with recent high lamb prices expected to continue in 2009-10. “Reflecting high lamb prices and low wool prices, the shift from wool to meat production within the Australian sheep flock is expected to continue in 2009-10, before stabilising from 2010-11 onwards as wool prices recover,” Miss Fletcher said. The outlook for the intensive livestock sectors of pigs and poultry have substantially improved in the past year because of lower grain prices and, in the case of pig meat, higher prices. Manager of livestock exports at Meat and Livestock Australia, Michael Finucan, said 2009 prices of live sheep were at unprecedented levels, reflecting strong demand and tight supplies. Mr Finucan said the demand for live sheep, particularly in the Middle East, was projected to remain strong in the coming years; however supply constraints were expected to limit export growth. “Demand will remain strong; the requirement for protein in the Middle East will continue to grow,” Mr Finucan said. “The availability of sheep will be the big factor keeping prices high.” Chief Executive of My Butcher, Tony Buckley, emphasised the importance of value chain thinking, which centres on putting consumers first. “The elements of success for a value chain approach are collaboration, sharing benefits along the chain, and targeting distinct consumer segments,” Mr Buckley said. |
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Session – Meat - what’s at stake? For media interviews and comment, please contact ABARE’s commodity analyst Sally Fletcher on 6272 2215. For general media enquiries, contact Maree Finnegan, Media Coordinator on 02 6272 2260, mobile 0417 689 567 or email mfinnegan@abare.gov.au |
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