skip to log on skip to main content
VoiceOver users please use the tab key when navigating expanded menus
Article related to:

Food, beverage and agribusiness

VIDEO: positive vibes at beef week

Head of FB&A Australia, ANZ Institutional

Published May 06, 2021

There’s an air of grounded positivity in the cattle industry, according to revellers at the Beef Australia Expo in Rockhampton, despite mixed conditions on either side of the supply chain.

Speaking to ANZ Institutional on video at one of the first large-scale industry events held in person since the beginning of the pandemic, Fulton Market Group General Manager Connor FitzGerald said high beef prices had delivered mixed fortunes.

“If you're a cattle farmer at the moment, then things are extremely fortunate,” he said. “Prices are very high and the outlook's very, very good.”

“Conversely, if you're a meat packer, you're not having much fun at all.”

ANZ Regional Executive Lisa Hewitt said the cattle sector was looking “exceptionally positive for the next five years”.

“That's come off the back of some pretty tough times right across Australia for the beef industry,” she said, noting floods, drought and of course, the pandemic.

{video}

Supply conditions remain tight, according to Fitzgerald, with 2021 “from an annual production perspective, expected to be one of the lowest for beef production years”.

Hewitt said ANZ expects cattle prices to stay elevated, and the bank remains committed to supporting its customers across the supply chain.

“The beef industry has experienced really great prices over the last couple of years and we're expecting that… to continue,” she said. “At the moment we’re trying to support our customers to get themselves into a position to really take advantage of that.”

FitzGerald said like many in the sector, Fulton was responding the uncertainty of 2020 by installing contingency plans in the event of further issues.

“There was so much volatility and uncertainty thrown up by the pandemic that we're looking to… implement various resiliency measures that will enable us to weather the storm should another black-swan event like COVID-19 happen again,” he said.

Watch the video above to hear more.

anzcomau:article-hub/industry/food-beverage-and-agribusiness,anzcomau:article-hub/topic/economy,anzcomau:article-hub/topic/trade-and-supply-chain
VIDEO: positive vibes at beef week
Ian Hanrahan
Head of FB&A Australia, ANZ Institutional
/content/dam/anzcom/images/article-hub/articles/institutional/2021-05/woman-feeding-beef.jpg

Related articles

  • Economy

    India has arrived

    Richard Yetsenga Chief Economist, ANZ

    Three key elements have put the India’s economic destiny is in its own hands.

    2024-10-03 00:00
  • Economy

    Sibos 24: the US, rates & China

    Raymond Yeung Chief Economist, Greater China, ANZ

    Ahead of Sibos in Beijing, Raymond Yeung runs through the themes that will shape the global economy in 2025.

    2024-10-14 00:00

This publication is published by Australia and New Zealand Banking Group Limited ABN 11 005 357 522 (“ANZBGL”) in Australia. This publication is intended as thought-leadership material. It is not published with the intention of providing any direct or indirect recommendations relating to any financial product, asset class or trading strategy. The information in this publication is not intended to influence any person to make a decision in relation to a financial product or class of financial products. It is general in nature and does not take account of the circumstances of any individual or class of individuals. Nothing in this publication constitutes a recommendation, solicitation or offer by ANZBGL or its branches or subsidiaries (collectively “ANZ”) to you to acquire a product or service, or an offer by ANZ to provide you with other products or services. All information contained in this publication is based on information available at the time of publication. While this publication has been prepared in good faith, no representation, warranty, assurance or undertaking is or will be made, and no responsibility or liability is or will be accepted by ANZ in relation to the accuracy or completeness of this publication or the use of information contained in this publication. ANZ does not provide any financial, investment, legal or taxation advice in connection with this publication.

Top