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FARM BUSINESS MANAGEMENT 1 - 2002 FARM ECONOMICS-TERM 1 FEEDLOT INDUSTRY LECTURER: CAMPBELL JEFFREY STUDENT NUMBER: 1407 DUE DATE: MARCH 22, 2002 Table of Contents SUPPLY AND DEMAND PATTERNS 1 DEMAND FORCES 1 Factors affecting demand by Japan in the last 10 years 2 FACTORS AFFECTING SUPPLY 4 RESPECTIVE ELASTICITY MEASURES 5 PRICE MOVEMENTS 6 REFERENCES 7 ACKNOWLEDGEMENTS 7 Prior to the 1990s, feedlots were used either to combat drought or opportunistically by producers, gaining an advantage when the grain prices were low. In the last ten years the Japanese beef market has been liberalised subsequently there has been an increase in demand for imported grainfed beef. Resulting in a huge growth of the feedlot sector within Australia. Cattle numbers in these feed lots has risen from 80 000 in 1985 to 640 000 in 2001. Also there is currently 850 feed lots accredited by the 'National Feedlot Accreditation Scheme', combined to form a total capacity of 850 000 (MLA March 21 2002). Supply and Demand Patterns Australia is the largest exporter of beef in the...

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