The stars are aligning for the red meat sector with record returns and global demand.  

Rabobank's latest report suggests two-million underutilised dairy calves are born each year, at a time when beef prices are hitting record highs.  

It's calling for a coordinated effort across breeding, rearing, and value chains to add an alleged $1.2 billion to the economy. 

Meat Industry Association Chair Nathan Guy told Mike Hosking there's a lot of system change that needs to occur.  

He says farmers know the demand is there, so it's an exciting time. 

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