Australia-Slump in Beef prices.

AUSTRALIA-BEEF PRICES SLUMP.

Australian beef cattle prices fell this week, fueled by an increase in supply and weak export markets, according to a report issued Friday by marketing concern Meat & Livestock Australia Ltd.

Exporters face continued problems with credit and stocks and fear of even weaker demand, it said. "These problems and the resultant absence of substantive buying from South Korea and Russia continue to delay the anticipated lift in sales and prices of Australian beef arising from the competitive Australian dollar," MLA said in a weekly market review.