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US feedlot consultant predicts meat price increase

by 5m Editor
19 March 2007, at 10:27am

AUSTRALIA - An American feedlot consultant says Australian shoppers will have to learn to pay more for meat because of rising grain prices.

Bob Lee from the Kantech Feedlot Association says meat prices in the US have tripled in line with rising corn prices.

He says the booming ethanol sector has driven international prices higher, so it is inevitable that meat prices in Australia will also go up.

"Pork and poultry are highly affected by grain prices and protein meal prices, so therefore that's not cheap meat that could replace beef as has happened in the last 20 years. So those days are over and so pork and poultry prices are going to up there," Mr Lee said.

Source: ABC Rural

5m Editor