Cattle Supply Falls
AUSTRALIA - National cattle supply dropped 20 per cent following further heavy falls of rain across a wide area of the eastern states last week.
18 August 2010
2 minute read
Rain keeps numbers subdued
Cattle quality in the paddocks is good and high yields are likely in the coming months with some producers set for the best spring in many years, allowing them to properly finish stock to the desired weights, reports Meat and Livestock Australia.
Restocker enquiry continues to underpin the market, particularly on young light cattle, which sold for very strong levels as the optimism in the season flows through the market. The quality at the saleyards was not overly good with many plainer lines coming forward, which was indicative in the price of the plainer grades which struggled to maintain last weeks rates.
Vealer steers sought after
Although plainer stock were mainly firm, any prime conditioned grades or forward conditioned vealer steers suitable for restockers were highly sought after. After Tuesday's markets the Eastern Young Cattle Indicator (EYCI) jumped 6.75¢ on last week to the highest point of the year and the highest since August 2006 - at 369.25¢/kg cwt. The vealer steer component was the impetus behind the rise, along with the tighter supply of yearling steers.
Over the hooks rates were firm to dearer across all states, with only direct to feedlot rates showing signs of a weaker trend on the back of feed grain prices increasing.
The Eastern States trade steer indicator gained 2¢ to 197¢ although feeder steers dropped 3¢ to 198¢/kg lwt. Japan ox remained steady at 183¢ and US cow dropped 4¢, to 140¢/kg lwt.
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