Beef and cattle industries in Australia are not forecast to continue benefiting from the sustained growth in prices they enjoyed in 2001.

According to industry association Meat & Livestock Australia, the 30% price increases witnessed last year will slow due to a slump in demand in Japan and a worldwide economic downturn.

However, prices are expected to remain favourable until 2004-2006, and the diverse export base will help protect exporters from slumps in individual markets.