The Eastern Young Cattle Indicator jumped 7 cents to 686c/kg cwt this week, following a 6% week on week increase in yardings. Restockers and feeders were well placed to acquire cattle in numbers at the nations saleyards in what was a largely sideways week for pricing.
Restocker demand was alive and well as the number of heifers
and steers heading back to the paddock increased 72% and 49% respectively week
on week. In Queensland’s main saleyards, there was strong buyer turnout but
restockers, in particular, chose to be more selective, resulting in the Restocker
Yearling Heifer Index losing 8¢ to 290¢/kg lwt and the Restocker Yearling Steer
Index dropping 10¢ to 365¢/kg lwt.
With feed crop pricing globally pushing lower under supply
pressure, feedlotters are in a good place currently to acquire cattle and this
was evident in the numbers heading to feedlots this week. A 57% increase in numbers sold to feeders
indicates confidence in the outlook, and they don’t need to stretch the budget
too far currently as the National Feeder Steer Indicator lost 9¢ to 368¢/kg
lwt.
Processor cows finished 3¢ higher to 29 ¢/kg lwt after a 10%
increase in yardings week on week. Last week’s Steiner US beef report (read
more here) saw 90cl pricing average slightly higher to 289¢/lb. Simultaneously the Australian dollar has
creeped upward against the US which has eroded some of the gains. For the most part this year the exchange rate
has been very supportive of Australian export demand. A significant change in
the economic outlook would be required to put a dent in current export beef
pricing, however, inventory management and reactive buying and selling will
start to play a role when the exchange rate fluctuates.
This week on Mecardo, Angus Brown discussed the level of
slaughter pushing the herd into decline (read more here). June quarterly cattle slaughter shows that
processing cattle has reached its strongest level since 2019 and that Female
cattle slaughter as a proportion of total slaughter jumped significantly.
Next week
With the direction of the cattle herd looking to be in decline but seasonal conditions for major cattle areas looking upbeat and US export demand likely to remain at least sideways, the platform looks to be built for opportunity in the cattle market.
Next week’s MLA herd projection will provide a refresh on the size of the herd. If it’s lower than we expect could this push saleyard pricing higher?
The southern weaner sales are almost over, and despite opening a little weaker than December, the results have positive compared to last year and compared
Despite saleyards and processors being shut for the holidays, the market continues to be thrown curveballs. The announcement of quota limits for beef imports into
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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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Which way is the wind blowing?
Restocker demand was alive and well as the number of heifers and steers heading back to the paddock increased 72% and 49% respectively week on week. In Queensland’s main saleyards, there was strong buyer turnout but restockers, in particular, chose to be more selective, resulting in the Restocker Yearling Heifer Index losing 8¢ to 290¢/kg lwt and the Restocker Yearling Steer Index dropping 10¢ to 365¢/kg lwt.
With feed crop pricing globally pushing lower under supply pressure, feedlotters are in a good place currently to acquire cattle and this was evident in the numbers heading to feedlots this week. A 57% increase in numbers sold to feeders indicates confidence in the outlook, and they don’t need to stretch the budget too far currently as the National Feeder Steer Indicator lost 9¢ to 368¢/kg lwt.
Processor cows finished 3¢ higher to 29 ¢/kg lwt after a 10% increase in yardings week on week. Last week’s Steiner US beef report (read more here) saw 90cl pricing average slightly higher to 289¢/lb. Simultaneously the Australian dollar has creeped upward against the US which has eroded some of the gains. For the most part this year the exchange rate has been very supportive of Australian export demand. A significant change in the economic outlook would be required to put a dent in current export beef pricing, however, inventory management and reactive buying and selling will start to play a role when the exchange rate fluctuates.
This week on Mecardo, Angus Brown discussed the level of slaughter pushing the herd into decline (read more here). June quarterly cattle slaughter shows that processing cattle has reached its strongest level since 2019 and that Female cattle slaughter as a proportion of total slaughter jumped significantly.
Next week
With the direction of the cattle herd looking to be in decline but seasonal conditions for major cattle areas looking upbeat and US export demand likely to remain at least sideways, the platform looks to be built for opportunity in the cattle market.
Next week’s MLA herd projection will provide a refresh on the size of the herd. If it’s lower than we expect could this push saleyard pricing higher?
Have any questions or comments?
Click on graph to expand
Click on graph to expand
Data sources: MLA, Steiner Consulting group, Mecardo
Categories
Have any questions or comments?
Weaners a little weaker but sellers can’t complain
The southern weaner sales are almost over, and despite opening a little weaker than December, the results have positive compared to last year and compared
It’s never a quiet one
Despite saleyards and processors being shut for the holidays, the market continues to be thrown curveballs. The announcement of quota limits for beef imports into
China springs new year trade barrier
We are less than two weeks into 2026, but already the beef industry has faced a multitude of events which will continue to impact markets
Quiet week after a monumental year
As the markets wrap up on the run to Christmas there was little movement on the price front. With all saleyard indicators currently sitting well
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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.
SERVICES AND CAPABILITIES STATEMENT BROCHURE
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.