Supply dipped by 15% week on week for the cattle market, leading to a slight rise in prices off the back of the supply shortage. Despite some small amounts of isolated rain on the eastern coastal strip, the majority of the nation missed out on rain, with many hoping to top up their moisture profile, to ensure a strong spring ahead of summer.
The
Eastern young cattle indicator was flat week on week, closing the selling week
at 670 c/kg. Roma had the largest volume contribution to the indicator, with
25% of the volume coming from their yards. It also had the 3rd
highest average price for the indicator averaging 692 c/kg.
The Western young cattle indicator had the largest value
gain for the week, lifting 4% to 620 c/kg. Volume in the west was only down 3%
compared to last week. Mount Barker dominated supply through saleyards, with
reports noting that the majority of young cattle presented in “store
condition”.
Processor cows were the only category to see an increase in
yardings nationally week on week with a rise of 5%. Prices averaged 1% higher, closing
the selling week at 296 c/kg. Dubbo had the largest volume contribution and
averaged 5% above the average at 311 c/kg. Its saleyard report mentioned cattle
“having plenty of condition and weight.”
Restocker heifers couldn’t quite crack the $3/kg mark,
closing the week at 299 c/kg a 1% gain on the week prior. This was despite a
27% drop in throughput. The spread between the males and females increased this
week, with steers lifting 4% to 387 c/kg. For restocker steers, Roma had a
commanding say, with 58% of the contribution coming from that sale.
Initial yardings data reported by the NRLS shows a 15% drop
in yardings week on week. However, this level of supply from the paddock remains
above average levels. Yardings for the east coast compared to last year for the
same week were 29% higher this year, and when compared to the 5-year average
34% higher.
Slaughter numbers for the week ending the 13th of
September increased 3% on the week prior. The lift coming from Tasmania, which
returned to its average level following what may have been a shutdown at a
plant.
The week ahead….
Final selling week of the 3rd quarter, under 100 days until Christmas and the wind up for silly season is all beginning to start. The BOM is predicting a chance of rain for the majority of the east coast, and small amounts in the west. If it does fall (particularly in dry regions), restockers confidence should improve and we may also see supply tighten some as producers hold stock to chase more condition and weight.
Plenty is happening in the beef market as production begins to ramp up. Whilst saleyard prices this week effectively tracked sideways there looks to be
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Spring supply short
The Eastern young cattle indicator was flat week on week, closing the selling week at 670 c/kg. Roma had the largest volume contribution to the indicator, with 25% of the volume coming from their yards. It also had the 3rd highest average price for the indicator averaging 692 c/kg.
The Western young cattle indicator had the largest value gain for the week, lifting 4% to 620 c/kg. Volume in the west was only down 3% compared to last week. Mount Barker dominated supply through saleyards, with reports noting that the majority of young cattle presented in “store condition”.
Processor cows were the only category to see an increase in yardings nationally week on week with a rise of 5%. Prices averaged 1% higher, closing the selling week at 296 c/kg. Dubbo had the largest volume contribution and averaged 5% above the average at 311 c/kg. Its saleyard report mentioned cattle “having plenty of condition and weight.”
Restocker heifers couldn’t quite crack the $3/kg mark, closing the week at 299 c/kg a 1% gain on the week prior. This was despite a 27% drop in throughput. The spread between the males and females increased this week, with steers lifting 4% to 387 c/kg. For restocker steers, Roma had a commanding say, with 58% of the contribution coming from that sale.
Initial yardings data reported by the NRLS shows a 15% drop in yardings week on week. However, this level of supply from the paddock remains above average levels. Yardings for the east coast compared to last year for the same week were 29% higher this year, and when compared to the 5-year average 34% higher.
Slaughter numbers for the week ending the 13th of September increased 3% on the week prior. The lift coming from Tasmania, which returned to its average level following what may have been a shutdown at a plant.
The week ahead….
Final selling week of the 3rd quarter, under 100 days until Christmas and the wind up for silly season is all beginning to start. The BOM is predicting a chance of rain for the majority of the east coast, and small amounts in the west. If it does fall (particularly in dry regions), restockers confidence should improve and we may also see supply tighten some as producers hold stock to chase more condition and weight.
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Data sources: MLA, BOM, Mecardo
Categories
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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.