Cattle Market Alert

AUSTRALIA - Heavy rain wipes away supply and young cattle quality remains strong reports Meat and Livestock Australia (MLA)in its latest cattle market alert.
calendar icon 24 August 2011
clock icon 2 minute read
Meat & Livestock Australia

National cattle yardings at physical markets reported by MLA's NLRS contracted by seven per cent, with the welcome rainfall across NSW driving supplies lower. Despite the lower numbers, throughput remains very similar to the corresponding period last year.

Consignments across Queensland actually lifted by three per cent, with more numbers recorded at Roma after last week's stronger prices.

Much needed rain fell over much of NSW recently which encouraged producers to withhold cattle, causing numbers to drop 26 per cent.

MLA reports Victorian throughput returned to normal levels, increasing by 11 per cent and Soth Australia supplies lifted by 27 per cent.

The weight and condition across the young cattle yardings was again of high quality, with plenty of prime cattle penned despite the mixed seasonal conditions. The proportion of young cattle has lifted slightly as spring approaches.

Competition increasing

MLA reports that strong competition from restockers after the rain and a slight upward movement in feeder and processor rates has helped physical market prices edge higher. The reduced supply also increased competition, with processors again looking interstate for extra numbers. Demand for export cattle was generally stronger, with supply shortages fuelling the market.

After Tuesday's markets the Eastern Young Cattle Indicator (EYCI) was 3.5¢ higher for the week, settling on 386.25¢/kg cwt.

Trade steer prices were five cents dearer on 213¢ and feeder steers lifted eight to 210¢/kg lwt. The heavy steer indicator gained three to 183¢ and medium cows were firm on 141¢/kg lwt.

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