General
World’s most expensive steak now Australian as cattle shortage, demand drive record price
Enjoy your steak this Christmas, because it might be too expensive next year.
Key points:
- Analysts say the key cattle price indicator could hit $10/kg next year
- The record prices come among a frenzy of restocking after the drought
- The rural property market continues to climb
Beef prices in Australia hit an all-time high in 2020, with the key indicator hitting $8 per kilogram, making it the most expensive in the world.
It’s been a record year in the livestock sector, but 2021 could be even bigger, according to AuctionsPlus.
The online trading platform boomed during the pandemic as producers battled to restock after years of drought and chased cattle and sheep from all over Australia.
Demand pushed the Eastern Young Cattle Indicator to record…
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