Cattle Market Alert
AUSTRALIA - Despite more rainfall in Queensland over the weekend numbers increased across most selling centres after warmer conditions in NSW allowed paddocks to dry out and more stock to be yarded. Consequently national throughput at Meat and Livestock Australia’s NLRS reported physical markets increased 17 per cent.
29 September 2010
1 minute read
More numbers come forward
Although there was an increase in numbers in Queensland numbers are well below where they would normally be at this time of year with a lot of the state hampered by wet conditions. The low yardings and limited ability to transport direct to works cattle as resulted in a number of processors operating at reduced kills and last weeks cattle slaughter being down 21 per cent on last year. On the other hand the other states supply levels sit near or above the same time last year.
Prices holding upDespite the $A continuing to get stronger and an increase in supply the lack of numbers in Queensland has seen competition remain strong at most selling centres. In some cases prices tended to ease but strong demand from restockers and feeders on young light and medium weight cattle helped elevate the Eastern Young Cattle Indicator (EYCI) to 374.25¢/kg cwt after Tuesday’s markets.
The eastern states trade steer indicator eased 4¢ from last week to 197¢ and feeder steers were 1¢ dearer at 199¢/kg lwt. Japan ox finished 2¢ higher at 187¢ and US cow settled at 146¢ to be 1¢/kg higher than last week.
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