Australian cattle prices forecast to remain elevated

• After falling to a nine-year low in October 2023, Australian beef cattle prices have recovered to now be above the 2015-19 average.
• The value of Australian beef exports has been on the rise since 2020-21, and has recently been supported by higher export volumes.
• The Australian cattle herd is at its highest level since 2014 but is forecast to contract slightly in 2023-24.

Australian beef cattle prices are expected to remain elevated over the next year, supported by improved restocker demand on the back of better seasonal conditions and healthy export demand.

NAB Group Economics Associate Director Lea Jurkovic will be discussing the outlook for the cattle industry and managing market volatility and opportunities on Wednesday, 8 May at 11:15am at NAB’s trade stand (site 02) at Beef Australia 2024 in Rockhampton, Queensland.

NAB is hosting free, daily information sessions and morning tea from May 6-10 at the event, which everyone is invited to attend. These short but informative sessions provide an ideal opportunity to hear directly from NAB’s specialists and other experts on a range of hot topics and ask questions.

The full program of NAB’s Beef Australia 2024 information sessions is available here.