US beef output dip offers export opportunity
Australian cattle prices will fall heading into 2023, while US beef production will drop, providing beef export opportunities for Australian producers, according to Netherlands-based Rabobank.
Favourable seasonal conditions are supporting herd rebuilding, although ample feed availability and higher cattle prices are seeing producers trade cattle rather than breeding them, Rabobank said in its latest global beef quarterly report. It expects Australian cattle prices to hold towards the end of this year before dipping in the new year as more cattle becomes available.
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