MLA Australian cattle industry projections mid-year update 2012
MLA's Australian cattle industry projections mid year update 2012 provides a comprehensive outlook on the cattle industry including forecasts for the national herd, cattle and beef supply, and exports.
This document is an update to MLA’s Australian cattle industry projections, released in January 2012, and should be read in conjunction with them. This update will focus on the changes to the outlook since the release of the original projections.
Published in July 2012, the projections include the following :
- Exports of beef and veal in 2012 are forecast to increase 1% to 960,000 tonnes swt, returns have been subdued in many markets, accentuated by the high A$ and problems in major world economies
- Exports to Japan remain flat and exports to Korea are down 13% for the first half of 2012, as additional local and US product entered the market at the same time as consumer demand declined
- The US market for Australian beef has rebounded in 2012, with exports up 46% for the first half of 2012, to 118,120 tonnes swt, with total shipments for the year forecast to reach 250,000 tonnes swt
- Exports to Russia for 2012 have been revised back to 55,000 tonnes swt, along with lower expectations for volumes to Indonesia.
- Sustained demand from Taiwan and the Middle East, along with an improvement in access for Australian grainfed beef to the EU will assist shipments in the second half of 2012 and into 2013
- Symptomatic of the slower economic activity, especially at retail, the amount of beef destined for the Australian market for 2012 is unchanged on previous forecast, at 740,000 tonnes cwt - up slightly on 2011 due largely to increased production
Download the 2012 industry projections mid-year update as a pdf
Join the discussion or ask questions about the projections in the blog by MLA Chief Economist Tim McRae
Read the 2012 industry projections mid-year update online