Another article in Beef Central today regarding the collapse of beef prices in Australia - always inevitable given increased supply (after 2 years of herd rebuilding), domestic consumers have been switching to cheaper proteins and Australia must export 60-70% of production (making it a global price-taker).
Domestic wholesale beef market in a ‘world of pain’
By Jon Condon, 03 August 2017
THE domestic wholesale beef market is in a world of pain at present, pressured by mounting volumes of product backing-up out of a lacklustre export market hit even harder by recent currency movements. On top of that, a vast price gap that’s emerged between beef and competing proteins, is making it even harder to shift
https://www.beefcentral.com/trade/domestic-wholesale-beef-market-in-a-world-of-pain/
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