It's the biggest price crash that northern Australia's cattle industry has seen since 2011.
The live cattle trade out of northern Australia has witnessed its biggest price crash since 2011, with key markets such as Indonesia and Vietnam struggling with the COVID-19 pandemic.Price for feeder steers to Indonesia have dropped more than 30 per cent in one month.Several abattoirs in Indonesia and Vietnam have closed because of COVID-19.
Indonesian President Joko Widodo declared COVID-19 a natural disaster last week, with the virus now detected in all 34 provinces and the death toll steadily rising. "Both in Indonesia and Vietnam, some abattoirs have physically stopped operating because they are concerned about people interaction and the spread of COVID-19, and because demand for their product has reduced rapidly.
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