Spring rain for Australia's north to hold cattle prices high

Written on the 29 August 2016

Australia's north is forecast to receive above average rainfall over the next three months, the country's weather bureau said on Thursday, boosting cattle herds.

The continent's tropical northwest has at least a 60 percent chance of above average rainfall from September to October, the Australian Bureau of Meteorology said, with rains forecast to sweep from the Kimberley coast, southwest of Darwin, east to cattle grazing lands in Queensland. There is an even chance of a wetter-than-average spring across the rest of the country.

"A wet spring for most of those cattle regions will mean the producers are able to hold on to stock for a bit longer because they'll have grass on the ground," said Matt Dalgleish, a livestock market analyst at agricultural advisory firm Mercardo.

Read more: http://www.dailymail.co.uk/wires/reuters/article-3757518/Spring-rain-Australias-north-hold-cattle-prices-high.html#ixzz4IiCpawsq
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