19 January 2011

2 minute read

Oceania

Supply picks up

Despite the damage caused by flooding last week both Toowoomba markets had lifts in supply, Warwick also had a decent offering for the first market of the year. In NSW all sales except Goulburn had more numbers as operations get back to normal and producers look to take advantage of strong demand from all buying sectors. Victorian numbers were down nine per cent due to the flooding in some areas, while SA and WA both had increased yardings.

The quality of both young and grown cattle is very good as the season remains excellent in most of the eastern states. Plenty of young cattle are carrying plenty of weight and condition and these are being contested strongly by feeders and processors given the general tight supply of cattle which has been further compounded by flooding.

Grown cattle have also been subject to strong demand from processors looking to secure enough cattle to fill shifts, pushing prices to higher levels. Nationally heavyweight grown steers topped at 223.5¢ and heavy D4 cows reached 177¢/kg.

With many roads damaged in Queensland some cattle are unable to be transported, as a result demand has been strong at the physical market. The general tight supply given the feed that producers have in the paddock is also helping boost demand. Restockers remain active on suitable lines but there are fewer suitable cattle and in some cases they have not been able to compete with feeders and processors. Lightweight yearling steers to restockers averaged 231¢/kg or $637/head.

After the close of Tuesday's markets the Eastern Young Cattle Indicator (EYCI) settled 6.25¢ higher than a week previous on 411.25¢/kg cwt. The trade steer indicator lifted 8¢ to 213¢ and feeder steers improved 4¢ to 215¢/kg lwt. The Japan ox indicator gained 10¢ for the week to 199¢ and medium cow was 5¢ dearer on 152¢/kg lwt.

TheCattleSite News Desk