Livestock prices plummet as Australian farmers prepare for drought
by Aston Brown from World news | The Guardian on (#6EDE9)
Saleyard prices down 40% on average from 2022 and are in line with amounts seen during 2019 drought, Meat and Livestock Australia says
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Growing fears of drought have prompted farmers to reduce livestock numbers, which, combined with slowing consumer demand and meat processing bottlenecks, has sent sheep and cattle prices plummeting in Australia.
Farmers who bought up during the wet years are rapidly trying to reduce the size of their herds to limit the cost of feed during an expected dry summer, sending more animals to the sale yards.
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