The devastating floods which recently hit North Queensland have reportedly killed more than 500,000 cattle in the region, while a further 150,000 are at risk of starvation, a crisis which is set to have a longer-term impact on the nation's beef market. Analysts have warned Australia could face price hikes, as the disaster will have a "significant impact" on supplies. Ag Force CEO Michael Guerin said the beef farming industry will take "the weekend" to recover. Approximately half of all Australia's cattle are located in Queensland.
The devastating floods which recently hit North Queensland have reportedly killed more than 500,000 cattle in the region, while a further 150,000 are at risk of starvation, a crisis which is set to have a longer-term impact on the nation's beef market. Analysts have warned Australia could face price hikes, as the disaster will have a "significant impact" on supplies. Ag Force CEO Michael Guerin said the beef farming industry will take "decades" to recover. Approximately half of all Australia's cattle are located in Queensland.