The levy board will invest more than it did last year in grain-fed beef verticals, with total investment rising by around AU$100,000 compared to last year.
Close to AU$7m ($6.94m) will be pumped into research and development (R&D). Around AU$3.47m, accrued from levies paid to MLA, will be matched by an equivalent amount of government funding to reach the AU$6.95m total.
The AU$5.77m remaining investment will be used to finance marketing, a portion of which will be used exclusively for grain-fed marketing while the rest will be used for beef marketing alongside the grass-fed beef sector.
Industry and profit
“For feedlot operators to remain competitive and sustainable in the long-term, MLA’s research, development and adoption programs need to deliver outcomes that improve their bottom line,” said Des Rinehart, MLA’s grain-fed, live export and goat program manager.
Rinehart described investment in R&D as “vital” to ensure the intrinsically-linked productivity and profitability of the beef industry in Australia is strengthened.
Feed supplies are expected to tighten this year in Australia as a season of heavy rain and burgeoning competition from buyers will likely see stocks tighten. A range of programs in genetics, genomics, animal nutrition and feed efficiency will be offered to lot feeders and producers to ensure risks are managed.
MLA’s work in R&D will explore how to optimise aspects of animal welfare, disease control and environmental stewardship to ensure Australians trust the meat industry.
MLA’s annual investment plan for the 2016-17 year is supported by six tenets that Australia’s meat industry has aspirations of achieving in the next four years. The six pillars are: consumer and community support; market growth and diversification; supply chain efficiency and integrity; productivity and profitability; leadership and collaborative culture; and stakeholder engagement.