Buyers want beef not cattle

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.