Australian cattle prices have surged to their highest level in more than two years, buoyed by favourable rainfall and heightened trade tensions between the US and China that has renewed buyer interest from Asia.
The Eastern States Young Cattle Indicator climbed to $7.12 a kilogram this week – its highest level since March 2023, according to Meat & Livestock Australia. It marks a sharp rebound from the low of $3.49 in late 2023, when drought conditions and market uncertainty dampened sentiment.
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Cécile Lefort is a markets reporter based in the Sydney newsroom. Cécile worked in New York and Hong Kong writing about global capital markets. Email Cecile at cecile.lefort@afr.com
