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. A new report from the United Nations Environment Program (UNEP) has found that global meat consumption continues to grow despite rising demand for animal products.
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.