In fact, in a good indication of beef demand rather than cattle demand driving the market, all major national male indicators are trading above month-ago levels, while all the female indicators are lower. Heavy steers closed this week at 452¢/kg, experiencing the largest seven-day jump of all the national price points, up 17¢/kg. This figure is 30% higher year-on-year, and sits about 23% above the five-year average, despite throughput for the indicator being slightly higher than the same week last year.
Feeder steers were fully firm at 466¢/kg, despite an extra 4,500 head going through the national indicator this week, and it remains about 15¢/kg stronger than four weeks ago. Restocker steers were also almost firm (down 1¢/kg) to 484¢/kg, 23¢/kg stronger than last month. While still about 30¢/kg above year-ago levels, restocker steers nationally are trading closer to the short-term average, this week only operating at a 3% premium.
Processor cows have come under some price pressure, influenced by ample supply and a rising Aussie dollar. Nationally, the indicator closed today at 361¢/kg, having lost 25¢/kg in the past four weeks. Indicator-eligible stock in this category climbed by 5,000 head week-on-week, and this was about 4,000 head more than the same week in 2025. Historically, the price remains strong, however, up 38% year-on-year and 28% above the five-year average.
Last week’s slaughter fell by about 19,000 head from the previous week, on the back of the public holiday and hot weather cancelling yardings. This figure was still 2% higher year-on-year, however, indicating the strong cattle supply continues. National cattle yardings rose more than 30,000 head to sit back well above the Meat & Livestock Australia rolling two-year average, and more than 10,000 head above the same week last year.
Buyers want beef not cattle
Next week
It should be steady as she goes as producers across the country either wait for the rain to start, or wait for it to stop. Export demand is proving resilient in the face of new quotas and an improving Australian dollar so far, and seems to be keeping up with strong domestic slaughter. An early autumn break in the south could impact the restocker equation, but it would need to be significant and widespread.
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Data sources: Mecardo; Meat and Livestock Australia
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