Aussie dollar bad for beef exports
DESPITE a drop in the Aussie dollar, the Australian beef export industry is yet to show signs of recovery.
Yesterday, the Australian dollar was trading at 82 cents, down on last month’s high of 93 cents.
“Overseas buyers are still sitting on their hands,” according to Northern Cooperative Meat Company general manager Gary Burridge.
“They are waiting to see how low it will go,” he said.
Mr Burridge refused to speculate on where the beef industry was at in the current cycle.
“The Reserve Bank can’t get it right,” Mr Burridge said.
“It’s extremely hard to tell.”
Even if the export demand was to increase, there was a shortage of livestock across Australia, he said.
“After the recent rainfall everyone is restocking,” Mr Burridge said.
In September last year, theafternoon shift in the boning room at the abattoir was cut, and casual shifts throughout the plant were also cut, leaving 150 casual staff without work.