THE Australian beef industry has turned its back on the global economic problems and is showing early signs of a comeback.
Cattle production for both grass and grainfed beef next year is forecast to recover and return to 2006 and 2007 levels according to Meat and Livestock Australia (MLA).
It released its mid-year Australian Cattle Industry Projections on Monday.
MLA says the full impact of an expanding cattle herd, seasons permitting, on turnoff and beef production is not expected until 2011 and beyond.
MLA economist, Tim McRae, Sydney, says the Australian cattle herd is forecast to hit 28.5 million head by June 2010, up 2.3 per cent from 2009, rising towards 30 million head by 2013, a modest 8.5pc higher than the low of 2008 due to drought.
"As has been the case for several years, the majority of the growth will be through northern Australia, given the extent of the improvement in seasonal conditions over the past year," Mr McRae says.
In contrast, southern Australian herds are expected to stabilise, assuming drought conditions continued to ease following a favourable late autumn and early winter break.
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