2010 Markets Pick Up
AUSTRALIA - Livestock markets have started strong in 2010, says Meat and Livestock Australia.
15 January 2010
1 minute read
Widespread rains across the monsoonal north, extending through dry areas of southern Queensland and northern New South Wales over the second half of December and early January has seen 2010 livestock markets commence with low yardings and stronger restocker interest.
Consequently, prices for cattle, lambs, sheep and goats are all well above closing prices for 2009.
Cattle prices have recovered quickly from their December lows, following the useful rains – with the Eastern Young Cattle Indicator (EYCI) at 315¢/kg cwt on Thursday, up 11 per cent on closing 2009 rates.
However, cattle prices are still down on previous years, reflecting continued sluggish export demand and a high A$ (up over 40 per cent against both the US$ and yen since January 2009). The EYCI is still four per cent down on opening rates in both 2008 and 2009. With low export prices and rain-affected turnoff, some export works may extend seasonal closures, limiting any further short term gains in cattle prices.
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