Difficult Conditions for the Australian Meat Market in W50

While Australian cattle slaughter numbers lifted considerably through November and into early December 2022 the opportunity to sell Australian beef into international markets is difficult due to the lower demand from China due to the extended COVID lockdowns, Australian Exports to the US also remain tight, as local supply remains high. This international pressure has pushed more Australian beef back into the domestic market. Some indicators for Australian beef on December 14, 2022, stood as follows:

Eastern Young Cattle Indicator: USD 6/kg CWT (USD 1.02 MoM drop)
Feeder Steers: USD 3.33/kg LWT (USD 0.46 MoM drop)
Heavy Steers: US$2.51/kg LWT (USD 0.48 MoM drop)
Medium Cows US$2.89/kg LWT (USD 0.53 MoM drop)