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Australian cattle prices have eased as herd rebuilding after consecutive good seasons raises supply. The Eastern Young Cattle Indicator fell to 580 cents per kg carcase weight, almost half its level a year earlier.
Rabobank estimates national slaughter will rise 16% in 2023.
Rising slaughter and reduced restocker demand push cattle prices lower, with limited room for recovery unless drought hits dry regions.
farmonline.com.auShan GoodwinJun 5, 2023Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
