Low female cattle slaughter and high carcase weights have set the scene for 2017, with these two components filtering through to influence the 2017 April Cattle Industry Projections. While the January estimate of 7.1 million head cattle slaughter remains, much heavier carcases will go a long way to alleviating the constrained supply pressure, with the result being only a slight (1%) year-on-year decline in beef and veal production.
Recent rainfall has rejuvenated the cattle market, with the higher year-on-year prices likely to carry through for the next quarter. Thereafter, and in line with the usual seasonal decline, the Australian cattle market will probably start to feel the pressure of what will be the beginning of the slow increase in the national herd, and ongoing softer global market conditions.
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