Australia: Divided opinion on forecasts and herd size, the 2024 cattle market story

Given the zig zagging nature of the key cattle indicators in 2024, the fact it's being labelled as the year that balance set in might seem extravagant but there is decent argument to the claim. Despite far stronger supply as a result of a rebuilt herd, prices in most categories either held up or made gains, indicating the system can now absorb the larger supply. Meat & Livestock Australia calculated prices over the year lifted by 20 to 39 per cent. Increased processor capacity and strong global demand for beef are two of the key reasons that happened. 2024 was also very much a year when opinion was split as to what was coming and whether or not producers were liquidating, rebuilding or in a maintenance phase. In line with that, the year finished with divided forecasts for 2025. Some analysts feel the fundamentals are such that upward movement in prices is on the cards. Others believe most producers will be destocking come early 2025 and that will lead to a slight decline in the ...