According to AccuWeather.com, the worst of the flooding across Queensland may have past, but its impact will be far reaching.

AccuWeather.com reports that flood waters have started to recede across much of Queensland from its height earlier this month. At the height of the flooding, flood waters covered an area equal to the size of South Australia, according to Australian officials.

The massive flooding has threatened crops, livestock and some water supplies across much of the state, AccuWeather.com reports.

Australia is a major global exporter of beef and sugar with the majority of these commodities produced in Queensland.

Australia’s Agriculture Minister, Tony Burke, estimates up to 150,000 cattle were killed in the floods and up to 20% of the sugarcane crop was lost in some areas.

According to AccuWeather.com, these losses will likely lead to lower exports and could eventually be felt by consumers later this year. However, an accurate accounting of the damage will take some time.

Australia is a major beef exporter to Asian markets. Also, JBS Swift is Australia’s largest beef packer.