00:00This week's analysis takes a look at cattle pricing. We look at Aussie prices versus some
00:04of our key competitors. Australian heavy steers around $4.43 as of the end of this week,
00:09whereas in the US the equivalent heavy steers at $7.61. So the Aussie price is about 42%
00:15discounted to the US. If we take a look at Argentina, they're at $4.68, so we're about
00:205% below them. However, Brazil's only at $3.02 for their equivalent heavy steer. So the Aussie
00:26prices are still about 46% above Brazil, but we don't really compete a lot with the Brazilian
00:30product in terms of quality. We're going to more high-quality markets. The key one's the
00:35US, of course, and at the US we're 42% discounted. The normal long-run discount's about 30-odd
00:41percent, so we're still quite cheap compared to US product. Some of the US stats this week
00:46as well was their cold store in beef. January opened the lowest cold stores in about four
00:51years, so their supplies are pretty tight. That's going to keep demand for US beef pretty
00:56strong from Australia into the early part of this year.
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