Charlie
Well-known member
Financial News
Australian cattle, sheep prices plummeting
by Pete Hisey on 10/19/2006 for Meatingplace.com
The so-called "100-year drought" in Australia, the country's worst drought in a century or more, has sent cattle and sheep prices off a cliff, with cattle losing up to $200 (Australian) in value in less than two weeks, according to the Weekly Times, an Australian daily newspaper.
Many ranchers cannot afford to feed their livestock or can't obtain feed, and are bringing cattle to market at whatever price they can get.
Cattle sales jumped 23 percent in the past week, while sheep and lamb sales leapt 46 percent and 39 percent.
Australian cattle, sheep prices plummeting
by Pete Hisey on 10/19/2006 for Meatingplace.com
The so-called "100-year drought" in Australia, the country's worst drought in a century or more, has sent cattle and sheep prices off a cliff, with cattle losing up to $200 (Australian) in value in less than two weeks, according to the Weekly Times, an Australian daily newspaper.
Many ranchers cannot afford to feed their livestock or can't obtain feed, and are bringing cattle to market at whatever price they can get.
Cattle sales jumped 23 percent in the past week, while sheep and lamb sales leapt 46 percent and 39 percent.