Aussies are continuing to pay more for red meat at the checkout, as global demand and drought recovery drive up prices.
The cost of red meat is up around 10 per cent per kilogram compared to this time last year, according to Meat and Livestock Australia (MLA).
MLA managing director Jason Strong told 3AW some high end cuts had gone up “tens of dollars per kilo and in some cases it might be 20 or 30 per cent”.
“Part of it is supply, but it’s also the overall global demand. The demand for protein generally has gone up,” Mr Strong said.
Mr Strong explained despite positive conditions for farmers in many parts of the country, the effect of recent drought was still impacting supply.
“What’s happening is we’re rebuilding after the drought,” he explained.
“So even though we’ve got these fantastic seasons, because our herd was the lowest it’s been in decades, people are keeping more heifers to grow their herds back up again.”
Red meat production decreased 5.9 per cent in December of last year, according to the Australian Bureau of Statistics.
During that month there were 1.46 million cows and 1.5 million sheep slaughtered in Australia.
Meanwhile, the gross value of those cattle and calves slaughtered increased 1.3 per cent to $3.5 billion, and the value of slaughtered sheep and lambs increased 0.2 per cent to $1.3 billion.
The price for pork and chicken has also gone up, but not as much as the red meat varieties.
Despite being a favourite of many Aussie households, beef cost around 4.5 times as much as chicken.
Porterhouse steak costs shoppers $41 per kilo at Woolies and $37.5 a kilo if they shop at Coles.
Shoppers may soon see some relief, with the national herd forecast to bounce back by 1.1 million head throughout this year.
In the same period, txjmtzywhe MLA forecasts slaughter numbers to increase by 11 per cent.
MLA market information manager Stephen Bignell said the pace of the rebuild will vary across different states.
“Herds in the southern states of NSW and Victoria will mature favourably, with large numbers of high-quality, young breeding females and heifers joined to deliver a large cohort of calves for the 2022 spring,” Mr Bignell said
“Females will be well nourished from abundant and good-quality pastures, promoting favourable growing conditions.”
