Meat Prices Ease In September Quarter

AUSTRALIA - The Australian Bureau of Statistics (ABS) Consumer Price Index (CPI) rose 0.6 per cent in the September quarter 2011, compared with a rise of 0.9 per cent in the June quarter 2011. On a year-on-year basis, the CPI rose 3.5 per cent, reports Meat and Livestock Australia (MLA).
calendar icon 31 October 2011
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Meat & Livestock Australia

MLA reports that most meats were slightly cheaper during the September quarter, with retail lamb prices registering their first quarterly fall since early 2007.

Beef retail prices continued their recent cheaper trend, partly influenced by the discounting by major retailers across the country, despite a nine per cent year-on-year increase in national average trade steer saleyard prices during the September quarter 2011.

In the September quarter 2011, the ABS reported beef retail prices eased again by one per cent compared with the previous quarter, and remained five per cent below the same period last year, at $15.14/kg.

Although lamb supplies were again tight during the September quarter due to the continued attractive seasonal conditions and strong overseas interest, MLA's National Livestock Reporting Service reported that national average trade lamb saleyard prices fell 12 per cent on the June quarter, despite remaining four per cent higher year-on-year.

Similarly, retail lamb prices eased 2.8 per cent on the June quarter, but remained seven per cent above 12 months ago, averaging $15.72/kg.

Despite also easing quarter-on-quarter, retail pork and poultry prices remained 2.5 per cent and 1.1 per cent higher year-on-year over the September quarter, to average $11.92/kg and $4.09/kg, respectively.

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