Topics:  cattle, livestock, markets, rural advice

MLA beef analyst explains the markets

Meat and Livestock Australia beef market analyst Ben Thomas told members of the current and predicted state of the beef export market.
Meat and Livestock Australia beef market analyst Ben Thomas told members of the current and predicted state of the beef export market. Contributed

TRAVELLING with the AgForce Roadshow was Ben Thomas, a beef analyst with Meat Livestock Australia.

Mr Thomas talked about the international and domestic beef markets and gave members an idea of where markets were heading.

"The adoption by Woolworths of the MSA grading system saw an increase in their sale," Mr Thomas said.

"Coupled with in-store taste testing, it has gained consumer approval and improved sales."

Mr Thomas said it was no secret Australia depended heavily on beef exports, as only 30% of production was consumed domestically.

"Our current herd numbers are just under 30 million and increasing, as seasonal conditions have improved," he said.

"Overall, red meat supplies worldwide are at low levels."

Mr Thomas said there were a number of variables that had a bearing on export markets, including government policy, disease (especially foot and mouth in other exporting countries) and animal welfare issues.

As Asian growth continued, there would be increased demand for protein, and as world incomes increased, meat was poised to meet the demand.

"Factors that can have a bearing on how well we can meet those demands include the value of our dollar, subsidies and disease," Mr Thomas said.

"One benefit in the Asian market is they are taking secondary meat cuts."

The 'throw another steak on the barbie' advertising campaign was popular.



Local Real Estate



Marketplace

Special Offers & Promotions

Compare & Save