Australian cattle prices reduced

AUSTRALIA - The benchmark EYCI fell 5.25¢ for the week to settle Thursday at 321.25¢/kg cwt, with restocker demand remaining weak and lotfeeders and processors generally buying on a quality basis.The national Japan ox indicator dropped 6¢/kg lwt and the US cow indicator slipped 2¢/kg.
calendar icon 6 October 2006
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Export cattle prices ease

The national Japan ox and US cow indicators were again cheaper this week, continuing the overall cheaper physical market trend of recent weeks. Over the hooks quotes were reduced for cows in all states except WA and Tasmania, where rates were unchanged.

Cow numbers have been steadily building, particularly in northern Victoria and southern NSW. This has given processors access to plentiful supply. Quality has declined along with the deteriorating seasonal conditions, with older cows most affected.

Nationally, the US cow indicator slipped 2¢ from last week, to 127¢/kg lwt – down in every state, with the exception of NSW and WA. Cow prices have followed a relatively steady trend over the past few months, but with the early onset of the spring flush increasing supply, processors have been able to reduce rates across all categories (with some even fully booked a fortnight in advance).

Source: mla.com.au
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