Key summary points:
- ongoing herd rebuild to restrict cattle flow in 2018
- adult slaughter expected to lift 3% to 7.4 million head
- cattle on feed forecast to ease after a record year in 2017
- strong competition from US and Brazil to place pressure on global prices.
- strong international demand expected to continue to support lamb and mutton prices
- lamb exports anticipated to pull back slightly, while shipment volumes forecast to build to new highs in 2019 and beyond as production increases
- producers continue to rebuild the national flock, leading to a slight decline in sheep and lamb slaughter as retention increases.
Read the projections in full
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