Cattle exporter Wellard says the China market has potential but only if prices for Australian cattle come down.
Wellard made a loss of $77.3 million for the year to June 30, more than three times its loss of $23.3 million in the prior year, as record high prices for Australian livestock curtailed demand from Asia and crimped the company’s margins.
The number of cattle shipped by Wellard for the 2016-17 financial year to all markets, including South America, fell by 29 per cent.
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