Australian New Year Trade Begins Strong
AUSTRALIA - Normal trading has returned, following the Christmas break, reports Meat and Livestock Australia. Cattle are good weights and as a result prices have remained relatively high.
11 January 2012
1 minute read
Cattle throughput builds
Physical markets in every state returned to normal trading after the Holiday break, and the early supply signs were positive. Despite a degree of uncertainty surrounding where market forces would establish prices, producers were keen to muster cattle after a few weeks off.
Throughput in New South Wales (NSW) markets was strong, with good numbers in the Hunter Valley and Northern markets. Queensland consignments were mixed, although there was 5,300 head at Roma. Victorian numbers also began strongly while both South Australia and West Australia supplies were limited.
Quality still excellent
Quality has not deteriorated over the Christmas break, as many agricultural regions benefited from further rainfall. This has ensured most young and grown cattle remained in forward condition, whilst also encouraging restocker orders. It is also the time of year where store cattle are widely available at the weaner sales and quality has been excellent.
Prices begin strongly
The cattle market has eased slightly in relation to the conclusion of 2011, although prices remain higher year-on-year. The Eastern Young Cattle Indicator (EYCI) opened strongly, settling on 415.25¢/kg cwt or three per cent higher year-on-year. Feeder and restocker demand has been prominent in the early stages, while export processors are taking a wait and see approach as the markets unfold.
TheCattleSite News Desk
