With Northern NSW saleyards getting a
flush of supply, buyers are hitting the road on the lookout for value leaving
some empty car spaces at the major yards this week.
Post easter return saw a flush of cattle come forward with the biggest yarding of the year so far, 106k head per NLRS. 52% out of weeks yarding was from NSW producers bailing on cattle as dry conditions begin to drag (Figure 2). Despite the strength of supply indicators remained relatively flat.
The Eastern Young Cattle Indicator was down 6¢ to 803¢/kg cwt. The Western Young Cattle Indicator declined 38¢/kg WoW but retains its current premium over eastern seaboard young cattle. Buyers could see the value in Feeder heifers, with the indicator increasing 16¢ to 408¢/kg lwt. Restocker indicators both eased marginally. Processor cow and heavy steer indicators both saw single digit decline (Table 2).
90CL remains flat and Steiner reports confirm that US beef demand outlook remains bullish despite more Brazilian competition. The downtick in the processor cow indicator over April is supply driven at this stage (Figure 1).
MLA saleyard reports detail a mixed bag. At a busy yarding, buyers prioritised quality in Roma, as southern stock reflected the dry conditions that prevailed over summer. Dalby saw supply pressure and a smaller buyer cohort which pushed prices lower. Wagga feeder and restocker buyers were not as active as in previous sales but a strong showing of export quality cattle attracted some competition. Inverell cull cow market declined with missing buyers, but the exporters were present for a record yarding at Tamworth.
More supply at current prices would give pause for a bit of price correction, particularly in the context of current diesel access, rain radars and supply putting a dampener on sentiment. The best thing for prices is feeders, restockers and processors all throwing their hat in the ring at the yards. As these buyers all readjust their expectations of the seasonal dynamics ahead, a consolation prize is the March export results. Per Jamie-Lee Oldfield on Mecardo this week, Australian beef exports have steamed through March coming in just shy of 150,000, making it the second-highest monthly export volume on record.
The week ahead….
Supply out of NSW will likely continue at this pace for the next few weeks. Prices if they track lower as a result should find some support from southern buyers. Restocking in SA and Victoria is some regions is still a possibility, but buyers will want some value.
The cattle market responded positively to lesser throughput and areas of rainfall this week, with prices lifting right across the board. Slaughter has remained historically
The female and young cattle selloff continues as meaningful rainfall eluded much of New South Wales. Slaughter rates have continued to climb, and prices have
High herd numbers and less than ideal seasonal conditions in parts of the country, teamed with seasonal ramping up of activity post-wet season, has meant
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Bumper numbers out of NSW motivate buyers to hit the road
Post easter return saw a flush of cattle come forward with the biggest yarding of the year so far, 106k head per NLRS. 52% out of weeks yarding was from NSW producers bailing on cattle as dry conditions begin to drag (Figure 2). Despite the strength of supply indicators remained relatively flat.
The Eastern Young Cattle Indicator was down 6¢ to 803¢/kg cwt. The Western Young Cattle Indicator declined 38¢/kg WoW but retains its current premium over eastern seaboard young cattle. Buyers could see the value in Feeder heifers, with the indicator increasing 16¢ to 408¢/kg lwt. Restocker indicators both eased marginally. Processor cow and heavy steer indicators both saw single digit decline (Table 2).
90CL remains flat and Steiner reports confirm that US beef demand outlook remains bullish despite more Brazilian competition. The downtick in the processor cow indicator over April is supply driven at this stage (Figure 1).
MLA saleyard reports detail a mixed bag. At a busy yarding, buyers prioritised quality in Roma, as southern stock reflected the dry conditions that prevailed over summer. Dalby saw supply pressure and a smaller buyer cohort which pushed prices lower. Wagga feeder and restocker buyers were not as active as in previous sales but a strong showing of export quality cattle attracted some competition. Inverell cull cow market declined with missing buyers, but the exporters were present for a record yarding at Tamworth.
More supply at current prices would give pause for a bit of price correction, particularly in the context of current diesel access, rain radars and supply putting a dampener on sentiment. The best thing for prices is feeders, restockers and processors all throwing their hat in the ring at the yards. As these buyers all readjust their expectations of the seasonal dynamics ahead, a consolation prize is the March export results. Per Jamie-Lee Oldfield on Mecardo this week, Australian beef exports have steamed through March coming in just shy of 150,000, making it the second-highest monthly export volume on record.
The week ahead….
Supply out of NSW will likely continue at this pace for the next few weeks. Prices if they track lower as a result should find some support from southern buyers. Restocking in SA and Victoria is some regions is still a possibility, but buyers will want some value.
Have any questions or comments?
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Data sources: Mecardo, MLA, Bloomberg
Categories
Have any questions or comments?
Decade high slaughter doesn’t dampen market
The cattle market responded positively to lesser throughput and areas of rainfall this week, with prices lifting right across the board. Slaughter has remained historically
Have we got 2023 on our mind?
The female and young cattle selloff continues as meaningful rainfall eluded much of New South Wales. Slaughter rates have continued to climb, and prices have
Supply starts to outpace cow demand
High herd numbers and less than ideal seasonal conditions in parts of the country, teamed with seasonal ramping up of activity post-wet season, has meant
Yards still full of NSW cows
The cattle sell-off kept on keeping on this week with national yardings dipping ever so slightly from last week to the second-highest level for 2026
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Independent analysis and outlook for wool, livestock and grain markets delivered to you as it’s published
Listen to the podcast
Join the Mecardo team for the Commodity Conversations podcast, where we provide short weekly market recaps and longer conversations with guests to discuss the drivers and trends in livestock, grain and fibre markets.
MEET THE TEAM
Our team of market analysts are recognised as leaders in Australian Ag market analysis, providing invaluable insights to help you navigate the ever-changing commodity landscape.
SERVICES AND CAPABILITIES STATEMENT BROCHURE
We don’t just bring you the most up to date market insights. Find out more about Mecardo’s services including risk management advisory, modelling, benchmarking, research & consultancy.