Cattle Market Alert: Steady Cattle Supply

AUSTRALIA - In Wednesdays Cattle Market Alert, Meat and Livestock Australia (MLA) reports that there is a steady cattle supply and prime yearlings are increasing.

28 September 2011

2 minute read

Oceania

Cattle supply steady

National cattle supply at markets reported by MLA's NLRS has been stable this week.

Queensland throughput was five per cent higher with Roma providing the bulk of the yarding. NSW supplies lifted six per cent, while in Victoria yardings fell 10 per cent. SA throughput was mixed at individual markets, but eased 14 per cent overall and WA numbers fell away after some welcome rain.

Prime yearlings increasing

The quality of yearling cattle improved yet again, with the prime drafts carrying adequate weight, whilst the slightly under conditioned lines remained available for restockers and feeders. Supplies were mixed, with some producers optimistically with holding stock due to the strong chance of rain this week.

Young cattle prices ease

Cattle prices have continued to trade at historically strong levels, although the young cattle market eased after supplies lifted. Restocker demand has underpinned prices - and if the forecasted rain eventuates this week this demand is expected to remain strong. Processors have been varied in competition, with some taking a wait and see approach to the current market.

After Tuesday's markets the Eastern Young Cattle Indicator (EYCI) eased 9.25¢ for the week, finishing on 395¢/kg cwt. This is the first time the EYCI has been under 400¢/kg cwt since early September. The trade steer indicator slipped 2¢ - to 214¢ and feeder steers were firm on 212¢/kg lwt. Heavy steer prices were 3¢ higher on 196¢ and medium cows finished firm on 151¢/kg lwt.