12 March, 2021
Beef prices hit decade high
BEEF PRICES have hit a decade-long high and Fair Dinkum Meats and Fresh owner Jason O’Loughlin said they are not likely to come down for a least a few more years.
BEEF PRICES have hit a decade long high and Fair Dinkum Meats and Fresh owner Jason O’Loughlin said they are not likely to come down for a least a few more years.
“They’ve gone up considerably in the last year because of the drought,” he said.
“It’s just been so dry down south and the longer the drought’s gone on the worse the prices have gotten.
The recent rains have alleviated the problem somewhat, but Mr O’Loughlin believes the farms will need more.
“The underground bores need to fill up and in turn it will create better grass for the cattle,” he said.
“It will need to rain a lot more and even then; it may take another generation for it to get back to where it was before the drought — maybe two to three years.
Mr O’Loughin said the increase in price of beef has driven some customers to pork and chicken for their protein.
“Pork, chicken and sheep products have not been as badly affected by the drought as they are better suited to the land.
But it is not just the drought that has been affecting O’Loughlin’s butchery, he said that because of COVID-19 business is at an all-time low.
“Retail in general is struggling,” he said.
“We’ve seen a real lack in consumer confidence.”
Mr O’Loughin said he was very worried for retail when JobKeeper finishes this month.
“The issue is not just isolated to meat,” he said.
“Across the board signs for retail is unsteady.
“We’ll be alright. People gotta eat.”
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