BEEF has finished the year on a record high.
In a positive sign for the Victorian weaner-calf selling season, which gets underway next week, the benchmark Eastern Young Cattle Indicator last week rose to a record 428c/kg.
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The indicator has ended the year at 426.75c/kg - almost 10 per cent higher than 12 months ago.
It tops off a stellar year for beef, with exports growing in the face of the strong Australian dollar, global financial uncertainty, floods and the Federal Government's snap ban on live exports to Indonesia.
Experts say 2011 is expected to be the fifth-best for beef shipments, with exports predicted to top 940,000 tonnes.
That figure eclipses last year's 922,833 tonnes and is just shy of the 2008 record of 957,482 tonnes.
Meat and Livestock Australia's chief economist Tim McRae said 2011 had been a volatile year for beef producers.
"There were the floods in Queensland, the Japanese earthquake, the dollar being over parity, the global financial crisis and the Indonesian live export situation," Mr McRae said.
"We were quite worried where prices would go and look what has happened.
"The low for young cattle prices was 370c/kg - that's been a high in other years."
While Japan remained Australia's biggest beef customer, taking 36 per cent, Mr McRae said growth in non-traditional markets had buoyed demand.
"Russia, the Middle East and Southeast Asia were the main contributors to the increase in total exports, but there were also rises in traditional markets, the US and Canada."
There have also been good sales to one of Australia's other major customer - South Korea - despite a push from the US to lift market share.
The MLA said January-November exports to Korea rose 20 per cent to 283,000 tonnes, with Australia holding a 49 per cent market slice.
Cattle Council of Australia president Andrew Ogilvie said 2011 would go down as a "good one" for the industry.
With new markets growing and customers still buying, he said the outlook was positive.
Mr Ogilvie said the strength of this year's cattle market was even more remarkable given the strong Australian dollar.
"The last time the Australian dollar was (this strong), cattle prices were terrible."
Mr Ogilvie said producers selling young cattle - including weaners - had particularly benefited. He predicted the coming round of weaner sales, kicking off at Hamilton and Casterton next week, would be at least as strong as last year.
More than 60,000 young cattle will be offered across southeast Australia. The success of weaner sales is also seen as a major measure of industry confidence.
Mr Ogilvie said good seasonal conditions across much of Australia's cattle finishing heartland should contribute to buoyant prices. "The only dark spot is the margins for steer finishers, which would have been tight this year," he said.
