Economic Principles
Week 3 Assignment
Read the following excerpts from
'Goat meat as alternative meat Source has producers Struggling to keep up With demand'
Jessica Schremmer
2 August 2019
consumer-demand/ 11374994
meat are Struggling to keep up With demand as consumers
alternative meats, and a dwindling supply due to the drought sees prices jurnp to record
Prices remain at $9—10 per kilo, after over-the-hook prices hit an all-time high of SIO.30 per
kilo carcase weight in May this
Meat and Livestock Australia's Julie Petty said last time they saw a significant price spike was
in 2017 at S 7.50 but Current prices Were unprecedented.
-For a producer, if you do have animals that are readyto be sent to market it'S an excellent
to be receiving for these animals, • Ms Petty said.
However, She explained the drought and tough seasonal conditions forced many producers
to destock their properties sorme time ago, which led to a reduced supply.
-We are seeing increased strong demand on both the international and domestic market,
She said.
Goat Industry Council Australia's Campbell McPhee said, as the world market was screaming
out for more of Australia's goat meat, he hoped it encouraged sx•ople to invest in the
industry.
-Dorrrstically there has certainly an increase Of consumption Of goat meat and
for an alternative meat. •
use the demand and supp* (including a diagram or diagrams) to support an
explanation of why the price of goat meat has recently reached an all-time high according to
this excerpt.
Please also refer to the grading rubric that is available on MvUni, and ensure that you have
addressed the assessment Criteria found there.