Read the following excerpts from‘Goat meat as alternative meat source has producers struggling to keep up with demand’Jessica Schremmer2 August 2019https://www.abc.net.au/news/rural/2019-08-02/goat-meat-prices-soar-amid-drought-and-strongconsumer-demand/11374994Goat meat producers are struggling to keep up with demand as consumers turn toalternative meats, and a dwindling supply due to the drought sees prices jump to recordlevels.Prices remain at $9–10 per kilo, after over-the-hook prices hit an all-time high of $10.30 perkilo carcase weight in May this year.Meat and Livestock Australia's Julie Petty said last time they saw a significant price spike wasin 2017 at $7.50 but current prices were unprecedented."For a producer, if you do have animals that are ready to be sent to market it's an excellentprice to be receiving for these animals," Ms Petty said.However, she explained the drought and tough seasonal conditions forced many producersto destock their properties some time ago, which led to a reduced supply."We are seeing increased strong demand on both the international and domestic market,"she said.Goat Industry Council Australia's Campbell McPhee said, as the world market was screamingout for more of Australia's goat meat, he hoped it encouraged people to invest in theindustry."Domestically there has certainly been an increase of consumption of goat meat and peopleare looking for an alternative meat."Your task:Use the demand and supply model (including a diagram or diagrams) to support anexplanation of why the price of goat meat has recently reached an all-time high according tothis excerpt.
Read the following excerpts from
‘Goat meat as alternative meat source has producers struggling to keep up with demand’
Jessica Schremmer
2 August 2019
https://www.abc.net.au/news/rural/2019-08-02/goat-meat-prices-soar-amid-drought-and-strongconsumer-demand/11374994
Goat meat producers are struggling to keep up with demand as consumers turn to
alternative meats, and a dwindling supply due to the drought sees prices jump to record
levels.
Prices remain at $9–10 per kilo, after over-the-hook prices hit an all-time high of $10.30 per
kilo carcase weight in May this year.
Meat and Livestock Australia's Julie Petty said last time they saw a significant
in 2017 at $7.50 but current prices were unprecedented.
"For a producer, if you do have animals that are ready to be sent to market it's an excellent
price to be receiving for these animals," Ms Petty said.
However, she explained the drought and tough seasonal conditions forced many producers
to destock their properties some time ago, which led to a reduced supply.
"We are seeing increased strong demand on both the international and domestic market,"
she said.
Goat Industry Council Australia's Campbell McPhee said, as the world market was screaming
out for more of Australia's goat meat, he hoped it encouraged people to invest in the
industry.
"Domestically there has certainly been an increase of consumption of goat meat and people
are looking for an alternative meat."
Your task:
Use the demand and supply model (including a diagram or diagrams) to support an
explanation of why the price of goat meat has recently reached an all-time high according to
this excerpt.
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