Live cattle exports to key markets in South-East Asia have been smashed by Australia having some of the most expensive cattle in the world and disease outbreaks in Indonesia.
Paul Holmes a Court-backed Wellard Limited said its earnings collapsed by 90 per cent on the back of Australian cattle exports slumping to a 10-year low.most expensive cattle in the world,Feedlots in Indonesia set up to fatten Australian cattle have closed down and players in both countries have quit the industry.
Against the trend, breeder cattle exports to China jumped 14 per cent to 122,669 head as it emerged as Australia’s second-biggest market.Total live cattle exports across calendar 2022 fell to 600,084 head, the lowest level since the industry was in recovery mode after a snap ban on exports to Indonesia imposed by the then Labor government in 2011 over animal welfare concerns.
The company is no longer involved in chartering vessels for sending live sheep to the Middle East in theMr Holmes a Court, the son of late business tycoon Robert and brother of Climate 200 founder Simon, owns one of the Wellard vessels and leases it to the company. “LSD and FMD infections in Indonesia, combined with high Australian cattle prices and a backlog of cattle and beef, continue to hamper cattle exports to Australia’s traditional main market for live cattle exports,” it said.“Other than producers, many participants in this market have either ceased operating or sustained significant financial losses in the past year.”
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