Exporters clap their hands

Drop in Australian dollar brings some relief to industry

CATTLE exporters are “clapping their hands” as the grip of the high Aussie dollar on the industry loosens.

The Aussie dollar hit a three year low last week at 93.26US cents, the weakest since September 2010.

And the less than parity plunge has farmers and cattle exporters expecting some life back in the market on the other side of winter.

Due to the high Aussie dollar exceeding US parity, local fat cattle prices have been ordinary in the recent past, as overseas buyers in the USA, Korea and Japan have sourced meat elsewhere.

But with recent rain and the prospect of greater demand for Aussie beef, exporters might now be able to turn their backs on one of the toughest periods in recent agricultural history.

“Exporters would be clapping their hands at the sight of the Aussie dollar falling,” industry veteran and Corcoron and Parker livestock agent Kevin Sanderson said.

“Last week’s fat cattle sale at Wangaratta had steers 2-4 cents dearer, vealer yealings five cents more, heifers firm, and cows 5-8 cents up,” he said.

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