Big demand for beef pushes prices to record highs
RECORD prices are expected ahead of a Charolais Bull sale at Coolabunia with reports the market is "looking better than ever".
Aussie Land and Livestock's Greg Lee said prices increased by 40c/kg in the last week alone.
However he said a combination of factors drove the price up.
"There's a shortage of cattle and the Aussie dollar has gone down," he said.
"These two things combine to make for a big demand for beef.
"They're really driving the market at this stage."
Mr Lee said the quality of Charolais bulls was also the "best we've seen in years".
"The quality of Charolais in the last few years has gone up and up," he said.
"There are certainly some good quality bulls on the market."
He expected the animals to fetch up to $7500.
"The average will be about $3500 to $4500," he said.
"Some will go for $2500 but some will go for $7500.
"There'll be a variety, bulls for the budget guys and some going for top price."
Mr Mills expected the third Annual Coolabunia Classic Charolais Bull Sale to be "the best of the year".
"Beef prices, the low dollar and the season we've had are all working in our favour," he said.
"It's given us a lot of hope."
Mr Mills said producers in the South Burnett had seen one of their best seasons yet.
"As opposed to other areas, this area has been good for rain fall," he said.
"A year ago things were looking pretty glum."
Mr Mills said the upcoming bull sale was a good opportunity for producers to improve their cattle.
"Better genetics, it's a worthwhile investment," he said.
"And this is the first year people have a bit of confidence and money in their pocket."
The bull sale will be held at 12pm, August 14 at the Coolabunia Saleyards.