Australian Cattle market alert

AUSTRALIA - Supply tightens further
calendar icon 4 July 2007
clock icon 2 minute read

National throughput at MLA’s NLRS reported saleyards have decreased further in addition to diminishing supplies in recent weeks. Across the country yardings have fallen by 14%. The largest drops in throughput were experienced in Victoria, which fell 25%, along with significantly less numbers in NSW, which were back 16%. Shepparton was greatly reduced compared to the previous sale whilst the drops in NSW have been predominantly experienced in the North West markets of Tamworth and Gunnedah, coming off the back of some good fails of rain and the commencement of the new financial year.

Queensland’s supply remained constant on the reduced numbers experienced a fortnight ago, with numbers at markets in the central and northern regions increasing as access to transport became less restricted by the wet conditions. SA and WA also showed decreases in throughput, particularly in Naracoorte where the yarding almost halved.

Competition has been solid from feeders and restockers prompting increased activity from processors who are having more difficulty in filling slaughter sheets with suitable grassfed lines.

Prices continue to make gains

Substantially lower supplies assisted demand resulting in prices improving across all categories. The benchmark Eastern Young Cattle Indicator (EYCI) gained 7¢ from last Tuesday to reach its highest point since the start of April this year, at 342.25¢/kg cwt. Trade and medium steers rose 3¢ and 11¢ to settle at 196¢ and 177¢/kg respectively.

Export rates were dearer, with the Japan ox indicator gaining 9¢ while the US cow indicators rose 6¢, to finish at 186¢ and 136¢/kg respectively.

Over the hooks (OTH) quotes were lifted in most states, with the export grades receiving the largest gains.

TheCattleSite News Desk

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