The cattle market maintained its upwards momentum over the past week as the arrival of spring buoyed prices further. All major categories have now been on a dearer trend for the past month, after falling throughout July. This bucked the historical trend of an improving market from mid-winter through to spring, before levelling out or trending very slightly down. Two big factors will determine if prices continue to buck that trend in the coming weeks, being rainfall and export demand (on the back of quotas being filled in two major markets).
Looking back at the week that was, however, major national price indicators lifted between 9¢/kg and 38¢/kg, despite a lift in yardings. The national cattle yarding was back in-line with the previous fortnight, around 53,000 head, which was a significant lift of more than 26% on last week. However, it was still well below Meat & Livestock Australia’s rolling average, and a 40% dip compared to the same week last year. We can now see that according to MLA figures, the month of August had the lowest total yarding numbers since September 2024 (excluding the month of January). Last week’s slaughter dipped slightly on the back of the smaller yarding and has now trended below year-ago levels since mid-June.
Nationally restocker steers made up the most ground, gaining nearly 8% for the week to close at 529¢/kg. Increased numbers out of Roma and Dalby, Queensland, made up more than half the restocker steer throughput (which was the only category to be lower in numbers week-on-week), with the National Livestock Reporting Service quoting additional southern support in the buying gallery, and prices improving across the weight ranges as both backgrounders and lotfeeders bid higher. To put the price differential over the past four weeks into perspective, restocker steers are now averaging $200 more per head than they were a month ago. The current price is 20% above the five-year-average.
Roma also had the biggest yarding of National Young Cattle Indicator eligible cattle, with online sales in NSW and then QLD rounding out the top three. The NYCI rose 14¢/kg to 514¢/kg, only about 2¢/kg below the Roma average, however the NSW state average for young cattle was still at a 65¢/kg premium to the QLD one. It was the same again for the processor cow price, which lifted overall for the week, but the top yarding in Roma was below the national average, and NSW yards sat about 40¢/kg above the Qld ones.
Angus Brown discussed potential price point squeeze on our beef exports here this week, as more tariff movements – albeit this time in the removal of one for our Brazilian competitors – impact the flow of international markets. The 90CL US imported beef price lost another 1.5% this week, now sitting well below year-ago levels. Both processor cow and heavy steers prices gained ground this week and are at similar levels above the five-year-average to other categories, however, they are the two indicators which sit at the lowest year-on-year premium at the moment.
Next week
Spring rainfall is still forecast to be below average for much of eastern and southern Australia, and temperatures above average. Mild temperatures and good rainfall over winter have set many producers up for success, but supply and demand will still be dictated by the weather to come over the next month.
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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Restockers returns still rolling in right direction
Looking back at the week that was, however, major national price indicators lifted between 9¢/kg and 38¢/kg, despite a lift in yardings. The national cattle yarding was back in-line with the previous fortnight, around 53,000 head, which was a significant lift of more than 26% on last week. However, it was still well below Meat & Livestock Australia’s rolling average, and a 40% dip compared to the same week last year. We can now see that according to MLA figures, the month of August had the lowest total yarding numbers since September 2024 (excluding the month of January). Last week’s slaughter dipped slightly on the back of the smaller yarding and has now trended below year-ago levels since mid-June.
Nationally restocker steers made up the most ground, gaining nearly 8% for the week to close at 529¢/kg. Increased numbers out of Roma and Dalby, Queensland, made up more than half the restocker steer throughput (which was the only category to be lower in numbers week-on-week), with the National Livestock Reporting Service quoting additional southern support in the buying gallery, and prices improving across the weight ranges as both backgrounders and lotfeeders bid higher. To put the price differential over the past four weeks into perspective, restocker steers are now averaging $200 more per head than they were a month ago. The current price is 20% above the five-year-average.
Roma also had the biggest yarding of National Young Cattle Indicator eligible cattle, with online sales in NSW and then QLD rounding out the top three. The NYCI rose 14¢/kg to 514¢/kg, only about 2¢/kg below the Roma average, however the NSW state average for young cattle was still at a 65¢/kg premium to the QLD one. It was the same again for the processor cow price, which lifted overall for the week, but the top yarding in Roma was below the national average, and NSW yards sat about 40¢/kg above the Qld ones.
Angus Brown discussed potential price point squeeze on our beef exports here this week, as more tariff movements – albeit this time in the removal of one for our Brazilian competitors – impact the flow of international markets. The 90CL US imported beef price lost another 1.5% this week, now sitting well below year-ago levels. Both processor cow and heavy steers prices gained ground this week and are at similar levels above the five-year-average to other categories, however, they are the two indicators which sit at the lowest year-on-year premium at the moment.
Next week
Spring rainfall is still forecast to be below average for much of eastern and southern Australia, and temperatures above average. Mild temperatures and good rainfall over winter have set many producers up for success, but supply and demand will still be dictated by the weather to come over the next month.
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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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.