09-04-2014 01:10 AM | Australia

Aussie cattle prices to soar on Japan trade deal

Concessions on Japanese beef import tariffs agreed in a free trade agreement between Tokyo and Canberra will, in cutting the appeal of US supplies, drive Australian cattle prices to a record high.

Australia & New Zealand Bank forecast that the eastern young cattle indicator, Australia's benchmark price index, would average 460 Australian dollar cents a kilogramme in the first half of next year, "a 30% increase from current undervalued levels".

It also implies the current record of 426.75 Australian dollar cents a kilogramme, set in December 2011, being easily surpassed.
Full Story : Agrimoney.com