Beef processors are again notching up hefty losses on scarce slaughter cattle, as Australian beef remains largely out-of-touch in key international meat markets.
A flat China beef export market caused by further COVID shut-downs and overall economic malaise, combined with very strong export competition and volume out of the US into markets like Japan and Korea, due to near record drought-driven US grainfed beef production is making heavy going for export beef processors at present.
Conversations held earlier today suggest slaughter cows in Queensland this week may be a $180/head net loss…
