Higher slaughter figures in Australia to lift meat supplies
Red meat processors in Australia are working at full capacity to lift meat supplies in order to prevent any future incidents that may stop production, such as covid-19 infection of some of their employees. The Australian retail has seen increased sales of red eat over the last week, as panic has hit the population and the demand is expected to remain high in the following weeks.
A virtual roundtable was held by the Australian Meat Industry Council to discuss the ongoing COVID-19 implications to the industry. Processors called for increased availability of testing to increase significantly to expedite treatment and containment and eliminate unnecessary isolation and allow employees to return to the workforce.
They also urged the local governments to take immediate measures to protect red meat industry businesses, including waiving fees and charges, deferring non-essential regulatory reviews, and implementing an immediate payroll tax holiday as part of a broader stimulus. At the same time, Minister of Agriculture David Littleproud tried to calm down the population mentioning that food self-sufficiency is at its highest level at this time. "Australia is in a fortunate position of producing enough food for 75 million people with a population of only 25 million, making us one of the food bowls of the world. The Federal Government is already preparing options to minimise the impacts should supply chain be interrupted from labour right through transport. We'll make sure that the labour supply for agriculture is looked after if it becomes an issue", he said. Regarding exports, Australia has the disadvantage of price hikes reported in the last two months and a half. According to Meat and Livestock Australia data, Since the beginning of the year, the national Medium Cow indicator has surged by 172A¢/kg and hit 558A¢/kg carcase weight (cwt) last week. In contrast, cattle prices in the US and South America have weakened in recent weeks, as covid-19 uncertainty and swelling supplies have turned markets bearish.
"Australian prices have been supported by renewed restocker demand, however, at this level the Australian market is falling out of step with global competitors, where prices have begun to reflect the current uncertain demand outlook. Producers making longer-term trading and budgeting decisions should be mindful of Australia’s unique market environment in this current global context", said MLA.
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