Being seedstock breeders means we represent both the beginning and the end of beef production. With that in mind, it's important for us to keep up to date with the latest in Australia's livestock forecasts. Here are some important points to note from the latest Department of Agriculture, Water and the Environment livestock outlook.

Successive seasons of above-average rainfall in eastern parts of the country have enabled graziers to rebuild herds, which will allow for greater production of meat. In 2022-23, the national beef herd is forecast to increase by 6% to 24.2 million head.

Global demand for red meat is expected to remain high due to key export markets continuing their economic recovery.

The gross value of production for the livestock sector is forecast to rise by 1.2% to $35 billion in 2022-23. Livestock prices are forecast to fall due to slowing restocking as graziers become less eager for cattle. Price falls will be limited by both the graziers continuing to buy livestock and strong global meat prices.

You really never stop learning, so take the time to see what's going on in your industry.