National cattle yardings jumped significantly this week, but it didn’t put downward pressure on prices, as indicators rose across the board. Young cattle, feeders, and restocker performed particularly well this week, indicating a more positive outlook for the cattle market in general moving forward.
Meat and Livestock Australia reported
cattle yarding numbers increased by more than 10,000 head this week, to just
above 50,000, but remained about 7000 head below both the five-year average for
this sale week. Higher numbers at store sales in Mortlake, Victoria, and Roma,
Queensland, made up a majority of the difference. The week-delayed slaughter
figures however, while dropping week-on-week in line with lower yardings last
week, continued their strong trend and were about 23% higher year-on-year.
The Eastern States Young Cattle Indicator
lifted significantly this week, up more than 40¢/kg to land at 443¢/kg.
Queensland sales (Roma store and Dalby) had the highest EYCI throughput and
both operated at well above the EYCI average, indicating rainfall in the north
is supporting demand.
Feeders took the biggest volume of EYCI-eligible
stock this week, with more than 50%. Restockers were also active and once again
paid a good premium, spending an average of 478¢/kg, more than 40¢/kg above the
EYCI average. The EYCI, while still just 45% of the price it was this time last
year, has lifted an optimistic 93¢/kg for the month.
The latest Australian Lot Feeders
Association and MLA lotfeeding brief show the September quarter as having the
highest grainfed beef volume on record, with cattle on feed continuing to
increase for the quarter as well. The national feeder steer price has been on
the increase since the start of the month, increasing 20¢/kg this week to
237¢/kg. Argus Meat and Livestock put the increase down to predicted rainfall
in the coming week, with some feeders trying to secure numbers before they
either can’t get them or the price potentially rises further, rather than
because of any increase to their income at the other end.
At the finished end, the heavy setter price
did lift this week to 210¢/kg, a more modest rise of 9¢/kg for the month than
the other indicators. Processor cows held pretty firm this week, up just 3¢/kg
to 172¢/kg, and have climbed about 17¢/kg for the month. Restocker steers and
heifers, on the other hand, have increased the most in the past four weeks, up
67¢/kg and 52¢/kg respectively – perhaps the biggest sign things are looking
more optimistic for cattle.
Next week
Forecast rain on the East Coast could
put further positive sentiment in the cattle market, and with the festive
season closures just a month away, all types of buyers will be making sure they
have what they want before the break. Rainfall in the right areas could prompt
producers to hang onto cattle in the new year as well, in the hope the price
trends will continue in the current direction.
The cattle market gained momentum this week, as plenty of active buyers drove prices upward and allowed the market to recover some recently lost ground.
Most recent industry outlooks point to a steady-as-she-goes cattle market for the medium term, with strong ongoing export demand and high slaughter levels counteracting the
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Positive market moves continue
The Eastern States Young Cattle Indicator lifted significantly this week, up more than 40¢/kg to land at 443¢/kg. Queensland sales (Roma store and Dalby) had the highest EYCI throughput and both operated at well above the EYCI average, indicating rainfall in the north is supporting demand.
Feeders took the biggest volume of EYCI-eligible stock this week, with more than 50%. Restockers were also active and once again paid a good premium, spending an average of 478¢/kg, more than 40¢/kg above the EYCI average. The EYCI, while still just 45% of the price it was this time last year, has lifted an optimistic 93¢/kg for the month.
The latest Australian Lot Feeders Association and MLA lotfeeding brief show the September quarter as having the highest grainfed beef volume on record, with cattle on feed continuing to increase for the quarter as well. The national feeder steer price has been on the increase since the start of the month, increasing 20¢/kg this week to 237¢/kg. Argus Meat and Livestock put the increase down to predicted rainfall in the coming week, with some feeders trying to secure numbers before they either can’t get them or the price potentially rises further, rather than because of any increase to their income at the other end.
At the finished end, the heavy setter price did lift this week to 210¢/kg, a more modest rise of 9¢/kg for the month than the other indicators. Processor cows held pretty firm this week, up just 3¢/kg to 172¢/kg, and have climbed about 17¢/kg for the month. Restocker steers and heifers, on the other hand, have increased the most in the past four weeks, up 67¢/kg and 52¢/kg respectively – perhaps the biggest sign things are looking more optimistic for cattle.
Next week
Forecast rain on the East Coast could put further positive sentiment in the cattle market, and with the festive season closures just a month away, all types of buyers will be making sure they have what they want before the break. Rainfall in the right areas could prompt producers to hang onto cattle in the new year as well, in the hope the price trends will continue in the current direction.
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Click on graph to expand
Data sources:MLA| Mecardo
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Cattle market pitches up
The cattle market gained momentum this week, as plenty of active buyers drove prices upward and allowed the market to recover some recently lost ground.
Restockers to set pace after Autumn break
Most recent industry outlooks point to a steady-as-she-goes cattle market for the medium term, with strong ongoing export demand and high slaughter levels counteracting the
Export buyers out of office
With the nation stopping yesterday to commemorate ANZAC Day, Thursday livestock sales did not take place. As a result, this week saw a decrease in
Cattle price volatility lower as supply and demand find balance
Cattle market volatility has waned recently. The wild swings of 2023 saw prices move up to 70% across the course of two months. Thus far
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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.