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The Influence of Natural Disasters on Beef Price in Australia

In: Proceedings of the 2025 3rd International Academic Conference on Management Innovation and Economic Development (MIED 2025)

Author

Listed:
  • Xiaohan Zhang

    (The University of Sydney, School of Science)

Abstract

Beef holds significant importance for Australia, both in trade exports and domestic farming and sales, making beef prices a key concern for producers and consumers. However, as a country frequently affected by natural disasters, beef prices in Australia are often influenced by such events. This study analyzes the impact of natural disasters on monthly beef prices based on the event attribution method. Results show that wildfires, storms, extreme weather, and droughts caused price drops for BULLS, with droughts having the largest total impact (average CAR -15.5996%). Wildfire and storm effects disappeared after three months, but extreme weather and droughts had prolonged negative effects, with droughts even showing a growing downward trend. In contrast, floods had a positive impact on bull prices, and shorter floods led to earlier price increases. YEARLINGS showed similar trends to BULLS, but the effects of disasters were milder, and the impact of droughts on YEARLINGS decreased over time, in contrast to BULLS. Overall, droughts and floods had the most significant effects on cattle prices due to their direct impact on herd development, while the other three disasters had only minor effects.

Suggested Citation

  • Xiaohan Zhang, 2025. "The Influence of Natural Disasters on Beef Price in Australia," Advances in Economics, Business and Management Research, in: Barbara Siuta-Tokarska & Adriana Grigorescu & Md. Mamun Habib & Yifeng Zhu (ed.), Proceedings of the 2025 3rd International Academic Conference on Management Innovation and Economic Development (MIED 2025), pages 748-758, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-835-6_80
    DOI: 10.2991/978-94-6463-835-6_80
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