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International

Beef producer takes $74 million hit from extreme weather

May 22, 2019 Reprints

Australian Agricultural Co. Ltd. said that extreme weather including drought in northern Australia and floods in Queensland have cost the beef producer $107 million Australia ($74 million) this year, The Sydney Morning Herald reported. Hugh Killen, chief executive of Australian Agricultural, said that the Queensland floods killed 43,000 head of cattle or nearly 10% of its herd, causing an estimated AUD 47 million in losses. Mr. Killen said that drought affected 800,000 hectares of its farms and cost the company AUD 60 million.

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Beef producer takes $74 million hit from extreme weather

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