Chairman Brad Bellinger says the Australian Competition and Consumer Commission's (ACCC) report released this week is a "re-hash" of a 2007 inquiry and appears to be "riddled" with factual errors.

A statement released by the association argues:

• The report states the Coles and Woolworths buy only 6pc of Australia’s total beef production and then admits Coles and Woolies control 52pc of domestic retail beef sales and purchase 50pc of young cattle.

Yet the ACCC concludes and that Coles and Woolworths do not have any significant buyer power to influence the price of cattle.

• The ACCC believes one group of public servants who advised them believe there are “75,000 properties in Australia on which cattle are bred” yet it ignores the MLA's (another group of public servants) LPA register that shows there are more than 150,000 properties with cattle.

• The report states: “Producers (selling to supermarkets) are paid for the gutted and trimmed carcase and generally receive a rebate or credit for their hides.” - This is not true.

• The report accepts that: “Industry sources indicate the key cost for processors is labour.” - This is factually wrong. The key cost to processors is livestock.

• The ACCC states: “The vast majority of beef sold in Australia is finished on grain in feedlots”. Only 20pc of the beef sold in Australia goes through feedlots.

• The ACCC concludes: “Retail gross margins on beef are low by comparison to most other categories of products sold by the MSCs, further suggesting strong retail competition.”

This statement follows: “While the ACCC did not obtain information on the MSC’s gross margins for beef specifically...” How did the ACCC reach such a strong conclusion without any data?