Red meat prices are set to rise following the flooding in outback Queensland that continues to wipe out cattle and impact food and livestock transport.
News website Nine MSN reports more than 100,000 head of cattle, sheep and goats have been killed or lost so far due to flooding.
Red Meat Advisory Council independent chair John McKillop says mass flooding affecting western Queensland, parts of the NT and northwest NSW would have a significant impact on cattle producers.
Mr McKillop says the flooding will certainly dry up the supply of cattle coming out of that Channel Country region … which will ultimately drive up prices, as the processers have to compete for a smaller number of cattle.
He says on the flip side, they’ll be a huge demand for cattle that aren’t finished and aren’t ready for market in two to three months’ time, as all this rain will produce a lot of feed that needs to be eaten.
