It has been another strong week for the cattle market, with all categories on the rise, with the exception of processor cows, which held steady. Restocker indicators achieved the most significant increases, despite being the only type to record higher yarding numbers, albeit only marginally so. The market looks to be keeping plenty of confidence, despite continued strong slaughter, as producers wait to see what spring will bring.
When it came to young cattle in the east, the north south supply divide continued to play out in throughput numbers, with Roma and Dalby, Queensland, and Gunnedah in northern NSW making up just shy of 50% of the Eastern Young Cattle Indicator eligible stock. But it was further south in NSW that supported the price. The EYCI ended the week at 872¢/kg, averaging 920¢/kg or higher in Wagga Wagga, Dubbo, and Carcoar. The EYCI has now been trading above the five-year average for four weeks, the first time it has done so since 2022, currently sitting at 7% higher.
The national processor cow price has held fairly firm, losing less than 1¢/kg for the week, but is now 20¢/kg lower than where it started in August. That said, it is still 26¢/kg stronger than it was four weeks ago and remains 23% above both last year’s levels and the five-year average. Again, we have to go back to 2022 to find prices in the range they are now. Interestingly enough, despite strong export demand coming primarily from the US, the cow price still sits at the lowest premium to year-ago levels of all the major indicators.
Agurs Meat and Livestock reported strong demand coming from lotfeeders in all eastern states as well as South Australia, as the national Feeder Steer Indicator rose to 466¢/kg, a climb of 40¢/kg in the past month. Aside from processor cows, feeder steers had the highest saleyard throughput of the week. Telling of the demand was the feeder heifer price, which rose by more than 10¢/kg to 424¢/kg.
Next week
There is plenty of attention on cow prices at the moment, with the newly introduced US tariff on Brazilian beef coinciding with record import demand from the US. Australian beef exports are already running at historic highs, underpinned by strong supply as the elevated female slaughter rate signals ongoing destocking. The key question now is how much capacity Australia has to fill part of the Brazilian void in the US market, and what processors will be prepared to pay come spring if restockers return in force.
A historically high cattle market has pushed cattle-on-feed numbers lower for the September quarter. Confidence in the sector has far from waned, however, with capacity,
National cattle yardings jumped 13% week-on-week, unsurprisingly putting downward pressure on prices, but the market still showed a level of resilience considering the increase in
The Australian Bureau of Statistics (ABS) released its quarterly Livestock Products report last week, and the cattle industry has been setting new records. It appears
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Market maintains upward momentum
When it came to young cattle in the east, the north south supply divide continued to play out in throughput numbers, with Roma and Dalby, Queensland, and Gunnedah in northern NSW making up just shy of 50% of the Eastern Young Cattle Indicator eligible stock. But it was further south in NSW that supported the price. The EYCI ended the week at 872¢/kg, averaging 920¢/kg or higher in Wagga Wagga, Dubbo, and Carcoar. The EYCI has now been trading above the five-year average for four weeks, the first time it has done so since 2022, currently sitting at 7% higher.
The national processor cow price has held fairly firm, losing less than 1¢/kg for the week, but is now 20¢/kg lower than where it started in August. That said, it is still 26¢/kg stronger than it was four weeks ago and remains 23% above both last year’s levels and the five-year average. Again, we have to go back to 2022 to find prices in the range they are now. Interestingly enough, despite strong export demand coming primarily from the US, the cow price still sits at the lowest premium to year-ago levels of all the major indicators.
Agurs Meat and Livestock reported strong demand coming from lotfeeders in all eastern states as well as South Australia, as the national Feeder Steer Indicator rose to 466¢/kg, a climb of 40¢/kg in the past month. Aside from processor cows, feeder steers had the highest saleyard throughput of the week. Telling of the demand was the feeder heifer price, which rose by more than 10¢/kg to 424¢/kg.
Next week
There is plenty of attention on cow prices at the moment, with the newly introduced US tariff on Brazilian beef coinciding with record import demand from the US. Australian beef exports are already running at historic highs, underpinned by strong supply as the elevated female slaughter rate signals ongoing destocking. The key question now is how much capacity Australia has to fill part of the Brazilian void in the US market, and what processors will be prepared to pay come spring if restockers return in force.
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Data sources: Mecardo; Meat and Livestock Australia; Argus Meat and Livestock
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The Australian Bureau of Statistics (ABS) released its quarterly Livestock Products report last week, and the cattle industry has been setting new records. It appears
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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.
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.