Summer forecast adds pressure to cattle price outlook

A hot, dry summer, as forecast by the Bureau of Meteorology, could accelerate an easing of cattle prices in 2017, NAB has cautioned in its latest beef cattle market outlook report. Producers have enjoyed record prices this year, but pressure from global fundamentals and a likely softening of re-stocker demand in response to drier conditions could see prices contract next year. “It has been our view for some time that the international beef outlook is now much weaker than in 2014 and 2015, and if eastern Australia sees a hot, dry summer (as per the Bureau of Meteorology’s latest forecasts)…

Source: Beef Central
Summer forecast adds pressure to cattle price outlook