The cattle market softened slightly this week as yardings lifted by more than 20,000. This increase in throughput was also heightened by lesser cyclone-affected yardings the week prior, and Victoria/Tasmania having a public holiday. Both the selling and buying activity continues to be dictated by widespread dry conditions, with plenty of the prime reports mentioning signs that this is being seen in the cattle yarded, and in the hesitation of any restocking interest.
In good news, Feeder steers remained fairly firm, only losing 2c/kg for the week, closing at just shy of 359c/kg. A majority of the stock eligible for this indicator came through Wagga Wagga and Dubbo, NSW, this week, both of which recorded averages above the indicator price. Heavy steers were also firm, losing less than 1c/kg this week, still averaging just above the $2000/head mark.
The Eastern Young Cattle Indicator gave us a better indication of how tight the season has got, falling more than 15c/kg for the week to land at 645c/kg carcass weight. More than a third of the EYCI-eligible cattle came through Roma and Dalby, Qld, with both recording prices well below the indicator average.
Cow prices had some of the bigger falls this week, but given the throughput it remained fairly resilient. The Processor Cow indicator at 268c/kg liveweight, which was 7c/kg below the previous week, but numbers contributing to the price increased by more than 4500 head. Dairy cows dropped about 10c/kg, but in their case, numbers were more than double the week prior. Nationally the cow price remains well above last year, as well as marginally better than both the five and 10-year averages. This is no doubt aided by the strength in the US 90CL imported beef price, which hit a new high in US$ last week.
Slaughter has fallen to be fairly on par with year-ago levels for the first time all year in the last two weeks (slaughter data being a week delayed), with the 130,000 head processed last week the lowest number for the year, excluding public-holiday shortened weeks. That’s not to say the foot has come off the pedal in this regard, however, with it still being 22% above the five-year average, and the year-to-date total slaughter sitting nearly 15% above the same time in 2024.
The week ahead….
Rain has fallen in some areas late this week, and many will be hoping it is the slightly early break they have been hoping for. Depending on what ends up in gauges before the system passes, it may be enough to give producers some pause on sending cattle to sale yards next week, but I suspect we will need a clear indication of more rain to come – if not actual water on the ground – before buyers react.
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.
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.
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.
Dry dictates market movement
In good news, Feeder steers remained fairly firm, only losing 2c/kg for the week, closing at just shy of 359c/kg. A majority of the stock eligible for this indicator came through Wagga Wagga and Dubbo, NSW, this week, both of which recorded averages above the indicator price. Heavy steers were also firm, losing less than 1c/kg this week, still averaging just above the $2000/head mark.
The Eastern Young Cattle Indicator gave us a better indication of how tight the season has got, falling more than 15c/kg for the week to land at 645c/kg carcass weight. More than a third of the EYCI-eligible cattle came through Roma and Dalby, Qld, with both recording prices well below the indicator average.
Cow prices had some of the bigger falls this week, but given the throughput it remained fairly resilient. The Processor Cow indicator at 268c/kg liveweight, which was 7c/kg below the previous week, but numbers contributing to the price increased by more than 4500 head. Dairy cows dropped about 10c/kg, but in their case, numbers were more than double the week prior. Nationally the cow price remains well above last year, as well as marginally better than both the five and 10-year averages. This is no doubt aided by the strength in the US 90CL imported beef price, which hit a new high in US$ last week.
Slaughter has fallen to be fairly on par with year-ago levels for the first time all year in the last two weeks (slaughter data being a week delayed), with the 130,000 head processed last week the lowest number for the year, excluding public-holiday shortened weeks. That’s not to say the foot has come off the pedal in this regard, however, with it still being 22% above the five-year average, and the year-to-date total slaughter sitting nearly 15% above the same time in 2024.
The week ahead….
Rain has fallen in some areas late this week, and many will be hoping it is the slightly early break they have been hoping for. Depending on what ends up in gauges before the system passes, it may be enough to give producers some pause on sending cattle to sale yards next week, but I suspect we will need a clear indication of more rain to come – if not actual water on the ground – before buyers react.
Have any questions or comments?
Click on graph to expand
Click on graph to expand
Click on graph to expand
Data sources: Mecardo; Meat and Livestock Australia
Categories
Have any questions or comments?
A snapshot of US beef
US tariffs and trade are constantly in the news, and beef being one of the most important commodities Australia exports to the US, there is
Moovement at the Yards
The return to operation for QLD saleyards, lack of rain on the forecast and the looming run of public holidays saw more cattle pass through
Beef exports continue record run
The first week of April brought with it big changes in global trade, instigated in the first instance by new tariffs from the US and
Prices rally after rain
While there has been plenty thrown at Australian beef producers this week from outside the saleyard, the market has been on the rise, with all
Want market insights delivered straight to your inbox?
Sign up to the mailing list to get regular updates to new analysis and market outlooks
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.