Economics
Australia Is Selling $280 Steaks to the Chinese
- S. Kidman & Co. to boost cattle herd by around 25%: Robb
- Australian beef exports to China to grow 17% this year: Abares
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Australia’s richest woman Gina Rinehart is boosting her cattle herd in the world’s third-biggest beef exporter to serve up more premium steak to discerning customers in China.
S. Kidman & Co., a unit of Rinehart’s Hancock Prospecting Pty, wants to increase its herd size by 25 percent to around 200,000 cattle within two to three years, according to board member Andrew Robb. The iconic Australian cattle company has stations covering an area almost the size of Austria, or 80,000 square kilometers (31,000 square miles) stretching across four states and territories. Kidman is establishing premium brands to distribute its grass-fed beef to overseas customers