A return to more normal yardings last week had the typical effect on prices. The record young cattle prices from last week didn’t hold, with the correction pulling the Eastern Young Cattle Indicator back to levels of the week earlier.
East coast saleyard throughput levels rebounded from the previous weeks low with all states contributing to the lift. A 34% rise saw 46,548 cattle yarded for the week ending the 19th of June.
The number of cattle slaughtered last week was marginally (2%) lower on the week prior. Queensland was the only state driving down the figures with 6% fewer cattle slaughtered in the state compared to the week prior. A total of 123,125 cattle were processed which was 20% under the same week last year.
The Eastern Young Cattle Indicator (EYCI) lost 2% on the week, returning to 754¢/kg cwt. The National Heavy Steer also lost some of last weeks gain, falling 15¢ to 367¢/kg lwt. There was a show of support for cows with the National Medium Cow price receiving a small lift of 5¢ to 279¢/kg lwt. Processor steers ended with week higher again, up 5¢. While Feeder yearling steers lost some ground, moving back under the 400¢ mark to 397¢/kg lwt.
The 90 CL Frozen cow price crept lower last week, falling 1% to 747¢/kg in AUD. The Meat & Livestock Australia Steiner report indicated that the “imported beef trade has become especially sluggish”. Slowing beef demand in the US and higher production, as processing capacity returns to normal, is putting pressure on US cattle prices.
Next week
Recent rain in southern parts of the country will no doubt be reflected in next weeks yarding figure release. Looking at the BOM forecast for the next week, there’s a good chance of another soaking in Tassie and the WA coast, however the rest of the country is expected to remain fairly dry which won’t do much for demand.
The long-predicted slowdown in US beef production has seemingly come into play this year, and Australian beef is filling some of the production gaps. Total
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In this report for LiveCorp and MLA, we analysed the historical trends in the demographics of the Australian sheep flock, examining domestic factors that influence farm-level enterprise decision making.
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Higher yardings see a slip from record values
Next week
Recent rain in southern parts of the country will no doubt be reflected in next weeks yarding figure release. Looking at the BOM forecast for the next week, there’s a good chance of another soaking in Tassie and the WA coast, however the rest of the country is expected to remain fairly dry which won’t do much for demand.
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Data sources: MLA, Mecardo
Categories
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US herd build provides a boost
The long-predicted slowdown in US beef production has seemingly come into play this year, and Australian beef is filling some of the production gaps. Total
All hands on deck clearing cattle
Young cattle prices have bounced back after the recent rain, improving 28ȼ to 626ȼ/kg cwt. While rain helps limit the flow of cattle at one
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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.
Research: Analysis of the Australian sheep flock
In this report for LiveCorp and MLA, we analysed the historical trends in the demographics of the Australian sheep flock, examining domestic factors that influence farm-level enterprise decision making.
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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.