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Global beef supply will outstrip demand in 2017

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A new report from Rabobank on the global outlook for animal protein says the supply-driven global meat market in 2017 will be great for consumers but less so for producers.

According to reports, global beef supply is set to outstrip demand in 2017, although Australian farmgate prices are expected to run counter to the international trend.

Rabobank’s senior animal proteins analyst in Australia Angus Gidley-Baird said Australian beef production was set to ease slightly in 2017, to its lowest level in over a decade, as the domestic herd continued to rebuild after years of drought.

“It is this constrained local supply, together with restocker demand, that is expected to create a floor in the domestic beef market,” he said.

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