Cattle market alert - large supply increases

AUSTRALIA - Supply at MLA’s NLRS reported saleyards increased 38% with NSW penning 43% more and Queensland more than doubling and returning to normal levels. The major centres of Toowoomba, Wagga, Gunnedah and Wodonga had the largest increase in volumes.
calendar icon 17 January 2007
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There was surprisingly good quality offerings of cattle at northern markets although at most centres it tended to tail off noticeably with many drought affected pens forced onto the market.

Demand has been solid with the return of a full complement of buyers after some abattoir maintenance closures, along with some renewed restocker optimism and lotfeeder presence. Yearling steers have made up a larger proportion of the young cattle section although vealer heifers have commanded some improved enquiry.

Cow rates boosted

Prime young cattle prices again improved, with the Eastern Young Cattle Indicator (EYCI) climbed to the highest levels since mid November 2006, finishing Tuesday at 303.5¢ - up 13¢/kg cwt on last week. Vealer heifers have showed the largest gains, with lotfeeder demand combined with more activity from processors assisting rates.

The national Japan Ox indictor gained 11¢, settling at 162¢/kg.

Cow prices continued to recover from the low base at the conclusion of last year, with the national US cow indicator lifting 11¢ to 115¢/kg. Heavy weights sold to a top of 159¢ and medium weights to 149¢/kg with all categories realising gains.

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