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Indonesian slaughter steer prices have fallen again in December, with the indicator at Rp41,000 per kg farm gate. Large feedlot inventories from imports of 60,000 and 70,000 cattle in July and August have created oversupply, and October imports of about 81,000 head are expected to add pressure.
Australian frozen beef is also competing with lower-cost buffalo beef in Indonesia.
Oversupply and weak demand in Indonesia point to lower live cattle import values and reduced demand for Australian cattle and beef.
beefcentral.comGuest AuthorDec 12, 2018Not 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.
