ABARES lifts cattle price forecast for 2016-17

ABARES has revised up its forecast for cattle prices for the next 12 months. In its latest quarterly commodities report released this morning, ABARES forecasts weighted saleyard cattle prices will average 550c/kg in 2016-17. That is up on the 517c/kg average it predicted for 2016-17 in its previous quarterly report in June. What has changed in the past three months? Rain and improved seasonal conditions for many cattle producing areas. Despite the downward pressure being placed by weaker export demand on prices for cows and heavy steers, ABARES believes the combination of stronger restocker demand and limited cattle supplies will push…

Source: Beef Central
ABARES lifts cattle price forecast for 2016-17