Last week’s rainfall buoyed southern cattle demand, pushing prices higher across the board as yardings continued to drop lower in the north. Queensland supply still dominated most indicators again, and despite young cattle in NSW still operating at a premium over the northern yards, QLD prices showed the most improvement this week. Latest ABS data shows that all three eastern states had record beef production last quarter, and the female slaughter rate reached a 45-year high, but throughput figures have been trending lower ever since, reinforcing the slowdown in supply.
The Eastern Young Cattle Indicator experienced its biggest weekly improvement since mid-June this week, rising 20¢/kg to 936¢/kg cwt. As mentioned, the price divide between QLD and NSW was significant – Roma, Qld, had 20% of the throughput and averaged 883¢/kg cwt, while Wagga had 18% and averaged 1014¢/kg cwt. Feeders paid the most for young cattle, and purchased the largest number, but it was restocker buyers which increased their price point more for the week, jumping 25¢/kg cwt.
The National Livestock Reporting Service quoted Roma Store as having a reduced yarding but additional buying support from both NSW and Victoria, and almost everything selling to a dearer trend. Yearling steers over 480kg selling to processors were 60¢/kg lwt dearer than the previous sale, while restockers were paying 50¢/kg lwt more for yearling heifers from 280 to 330kg. Heavy steers were in short supply everywhere, with the national indicator rising 12¢/kg to 430¢/kg lwt. With a throughput of just 1230 head for the week, QLD yards had the top three yardings and made up more than 55% of them, averaging 410¢/kg lwt but lifting more than 21¢/kg.
Total national yardings were at their third-lowest level for the year, with only the first trading week in January, and the Australia day impacted week at the end of that month having lower numbers. Actually, if we take out the final trading week of 2025, we have to go back to last August to find a lower yarding number. Slaughter last week was also down, albeit only marginally from the previous week, and on-par with year-ago kill levels. The FSR fell to 45%, the lowest it has been in any week since January.
Wagga Wagga, NSW, had the only significant yarding of feeder steers with over a quarter of the throughput, and averaged 530¢/kg lwt, with the NLRS reporting light-weight feeders lifting 10¢/kg lwt due to strong northern demand – showing cattle are moving both ways at the moment. The national feeder price lifted 22¢/kg for the week to land at 506¢/kg lwt and now sits at the highest premium to year-ago levels of all the major price-points, up by 40¢/kg. Restocker yearling heifers, despite being on the up this week, still sit more than 60¢/kg lwt lower than a month ago, and are the only indicator trading below year-ago levels.
Next week
Without any significant improvement in supply expected in the short term, prices should easily be maintained where they are currently as we move into spring. Historically we do see a decline in young cattle prices throughout September and October, however with strong returns and good grass in the south this will depend on how many young cattle are still to come out of northern areas that have dried off.
There were just minor changes to the national saleyard indicators this week as public holidays interfered with business-as-usual sales. The big drop in numbers and
Australian cattle slaughter is expected to hit its highest level since 1978 in 2026, having already hit that mark for the 2025-26 financial year. Female
Meat and Livestock Australia (MLA) released their Australian Cattle Industry Projections last week, and like any forecasts, they can become out of date relatively quickly.
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Cattle yardings fall further
The Eastern Young Cattle Indicator experienced its biggest weekly improvement since mid-June this week, rising 20¢/kg to 936¢/kg cwt. As mentioned, the price divide between QLD and NSW was significant – Roma, Qld, had 20% of the throughput and averaged 883¢/kg cwt, while Wagga had 18% and averaged 1014¢/kg cwt. Feeders paid the most for young cattle, and purchased the largest number, but it was restocker buyers which increased their price point more for the week, jumping 25¢/kg cwt.
The National Livestock Reporting Service quoted Roma Store as having a reduced yarding but additional buying support from both NSW and Victoria, and almost everything selling to a dearer trend. Yearling steers over 480kg selling to processors were 60¢/kg lwt dearer than the previous sale, while restockers were paying 50¢/kg lwt more for yearling heifers from 280 to 330kg. Heavy steers were in short supply everywhere, with the national indicator rising 12¢/kg to 430¢/kg lwt. With a throughput of just 1230 head for the week, QLD yards had the top three yardings and made up more than 55% of them, averaging 410¢/kg lwt but lifting more than 21¢/kg.
Total national yardings were at their third-lowest level for the year, with only the first trading week in January, and the Australia day impacted week at the end of that month having lower numbers. Actually, if we take out the final trading week of 2025, we have to go back to last August to find a lower yarding number. Slaughter last week was also down, albeit only marginally from the previous week, and on-par with year-ago kill levels. The FSR fell to 45%, the lowest it has been in any week since January.
Wagga Wagga, NSW, had the only significant yarding of feeder steers with over a quarter of the throughput, and averaged 530¢/kg lwt, with the NLRS reporting light-weight feeders lifting 10¢/kg lwt due to strong northern demand – showing cattle are moving both ways at the moment. The national feeder price lifted 22¢/kg for the week to land at 506¢/kg lwt and now sits at the highest premium to year-ago levels of all the major price-points, up by 40¢/kg. Restocker yearling heifers, despite being on the up this week, still sit more than 60¢/kg lwt lower than a month ago, and are the only indicator trading below year-ago levels.
Next week
Without any significant improvement in supply expected in the short term, prices should easily be maintained where they are currently as we move into spring. Historically we do see a decline in young cattle prices throughout September and October, however with strong returns and good grass in the south this will depend on how many young cattle are still to come out of northern areas that have dried off.
Have any questions or comments?
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Data sources: Meat and Livestock Australia, Mecardo
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Have any questions or comments?
Northern rain and the cost of freight
The forecast is looking promising for vast parts of Queensland and Northern NSW for the coming week. If you are looking for rain, of course.
Rain and holidays halt young cattle slide
There were just minor changes to the national saleyard indicators this week as public holidays interfered with business-as-usual sales. The big drop in numbers and
Queensland supply surge now shot?
Australian cattle slaughter is expected to hit its highest level since 1978 in 2026, having already hit that mark for the 2025-26 financial year. Female
Projecting the herd to decline
Meat and Livestock Australia (MLA) released their Australian Cattle Industry Projections last week, and like any forecasts, they can become out of date relatively quickly.
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Independent analysis and outlook for wool, livestock and grain markets delivered to you as it’s published
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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.
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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.