With above average rainfall predicted across New South Wales and parts of Queensland, the national cattle herd rebuild is set to continue, according to MLAs first Cattle Industry Projections update for 2022. Key points:
- National herd forecast to grow by 1.1m in 2022 as herd rebuild becomes more pronounced
- Slaughter numbers forecast to rise by 11% in 2022, driven by increased supply
- Production volumes expected to reach 2.08m tonnes, a positive for export markets.
While the ongoing rebuild is positive for the red meat and livestock industry, the pace of the rebuild will vary across different states, underpinned by the third year of favourable seasonal conditions for southern Australia.
On Thursday 03 February at 11am AEDT, the MLA Market Information team will be conducting a webinar to present the Cattle Projections. If you wish to join the webinar, please register via the following link.