# Record prices, farm debts make it hard for livestock producers to rebuild herd - ABC News

> Australia's national cattle herd is at its lowest in almost 30 years and the sheep flock at its lowest since 1904, after drought, bushfires and floods. With coronavirus closing state borders, restocking is harder, and livestock prices are at record levels while many farmers carry debt.

- Date: 2020-03-24 · published 2020-03-24T12:00:00.000Z
- Category: weather · region Australia · magnitude medium
- Page: https://feedsoft.ai/events/54067-record-prices-farm-debts-make-it-hard-for-livestock-producers-to-rebuild-herd
- Commodities: [Live Cattle](https://feedsoft.ai/c/LCATTLE.md)

## Why it matters

A shrinking Australian herd keeps beef and sheepmeat supply tight and prices high, though it has little direct effect on feed grain demand. Restocking constraints may keep cattle prices firm for longer.

## Read by commodity

- LCATTLE: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| LCATTLE | 2020-01-08 | [Cattle prices forecast to jump when drought breaks as farmers forced to sell breeding stock - ABC News](https://feedsoft.ai/events/55034-cattle-prices-forecast-to-jump-when-drought-breaks-as-farmers-forced-to-sell.md) | +0.2% | -2.8% |
| LCATTLE | 2022-11-13 | [All Drought, No Cattle: Low herd supply may drive record-high prices next year](https://feedsoft.ai/events/38615-all-drought-no-cattle-low-herd-supply-may-drive-record-high-prices-next-year.md) | +0.8% | +2.2% |
| LCATTLE | 2025-02-06 | [CattleFax Forecasts Continued Strong Demand and High Price Outlook for Cattle Producers](https://feedsoft.ai/events/26180-cattlefax-forecasts-continued-strong-demand-and-high-price-outlook-for-cattle.md) | -1.7% | -4.6% |
| LCATTLE | 2023-03-30 | [U.S. livestock: CME live cattle set contract high as cash prices jump - Grainews](https://feedsoft.ai/events/10373-u-s-livestock-cme-live-cattle-set-contract-high-as-cash-prices-jump-grainews.md) | +2.1% | +7.2% |
| LCATTLE | 2023-08-27 | [Live cattle gain as heat impacts producers - CME
						 \| The Beef Site](https://feedsoft.ai/events/34714-live-cattle-gain-as-heat-impacts-producers-cme-the-beef-site.md) | -0.8% | +1.5% |

## Sources

- abc.net.au: https://www.abc.net.au/news/2020-03-24/restocking-problems-national-herd-coronavirus-border-closures/12063968

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.