Silver Lining to Australian Credit Crisis

AUSTRALIA - The current credit crisis may be hampering the Australian dollar, but if this trend continues Australian beef may actually strengthen on the international market.
calendar icon 8 October 2008
clock icon 1 minute read

With the Aussie dollar dropping rapidly, it's hoped in time that Aussie meat will become even more attractive to overseas importers, reports ABC Online.

But for now, times are unstable as buyers hold off with doubts about future demand for meat.

Peter Weeks, chief market analyst with Meat and Livestock Australia, he says we're already seeing the effect of the crash on meat sales.

"Consumers are shifting to eating out less and eating at home more,' he told ABC.

"When they are eating out, they're eating more at cheaper outlets and that's actually boosted hamburger demand, and when they're eating at home they're choosing to buy less of the dearer cuts of beef and more of the mince or cheaper cuts.

"So there's quite a shift happening globally in terms of consumer buying habits."

TheCattleSite News Desk

© 2000 - 2024 - Global Ag Media. All Rights Reserved | No part of this site may be reproduced without permission.