Australia-Global recession hits beef exports.

AUSTRALAIA-RECESSION HITS BEEF EXPORTS.

Soft global demand for beef due to the impact of the global financial crisis resulted in a fall in the number of cattle in Australian feedlots in the first quarter of 2009, the Australian Lot Feeders Association reported Monday. The number of cattle in feedlots fell 10% in the first quarter to 650,026 from 719,379 in the fourth quarter to be up 7.6% on year, according to a quarterly survey issued by ALFA and marketing concern Meat & Livestock Australia Ltd. "The global financial crisis in particular continued to create uncertainty in the export market place, with buyers unwilling to commit to forward purchases and grain fed beef export prices falling," ALFA President Jim Cudmore said in a statement.