US feedlot consultant predicts meat price increase

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.

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Source: ABC Rural

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