Gina Reinhard buys NT properties, page-2

Very upbeat article in AFR today ...

"There is already demand for more than 1 million cattle a year," said Mr Chen.
That's equivalent to 90 per cent of the 1.1 million cattle which Meat & Livestock Australia, the industry peak body, says will be exported this year.
It's an equally significant 13 per cent of the 7.4 million cattle which are set to be slaughtered in Australia this year.

With the national herd currently at a 20-year low of around 26 million head, most industry figures doubt Chinese meat processors will be able to secure 1 million head of cattle from Australia for many years.
However, this won't deter Chinese processors such as Mr Chen.
"The Chinese are potentially going to be a big buyer," said Ben Thomas, the manager of market information at MLA.
"But I wonder how much further they can push the price up. If they come into the market aggressively I think you will see other buyers drop out."

Mr Thomas said the benchmark Eastern Young Cattle Indicator is trading at a record 657 cents per kilo, double its average over the decade to 2014.


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