Cattle Market Alert
AUSTRALIA - Supply lifted 28 per cent at Meat and Livestock Australia’s NLRS reported saleyards nationally, with most states recording higher numbers.
10 November 2010
2 minute read
Numbers emerge
The largest increase was seen at Roma store sale, which lifted by 67 per cent, to 8,620 head. NSW yardings were only slightly higher with Scone having a significant rise while Tamworth and Forbes were smaller on Monday. With the return to a full week Victoria numbers were up. In SA, Mount Gambier has moved to seasonally split sales with export cattle on Mondays, which along with rises at the SA LE and Naracoorte saw yardings bolstered.
Cattle quality continues to be good and in some cases heifers are becoming over conditioned. Well finished cows are entering the market, some of which have been split from cow and calf units in order to take advantage of the current market before summer sets in. Pasture conditions throughout the eastern states remain exceptional with hay cutting and harvest operations a major focus for mixed farmers at present.
Over the hooks prices were mainly unchanged with the exception of Queensland, where increased supplies allowed processors to move rates to lower levels. In the saleyards, indicator grades came off a fraction for most categories, mainly due also to larger numbers as trading conditions on the export and domestic markets has remained constant. Restockers and feeders continue to place a floor in the market which is underpinning prices.
After Tuesday’s markets the Eastern young Cattle Indicator (EYCI) finished 4.25¢ above last week at 366.5¢/kg cwt. The trade steer indicator was 4¢ lower at 189¢ and feeder steer eased 3¢ to 189¢/kg. Japan ox was firm on 179¢ and medium cow settled 4¢ less on 141¢/kg.
TheCattleSite News Desk
