Total national cattle yardings was just over 409,000 head in March, and is sitting at about 294,000 head for April, with a week to go. That has already put this month above MLA’s two year rolling average of 280,000 head. This week’s cattle yarding was 98% higher year-on-year, and 68% above the five-year-average. It is still NSW driving the numbers, with the state making up just shy of 60% of the yarding this week, and Dubbo in the central west reaching a new record yarding for the second consecutive week.
Unsurprisingly the continued supply pressure pushed prices downward pretty much across the board this week, apart from restocker yearling heifers. The cow price fell 25¢/kg and is now about 50¢/kg lower than where it sat a month ago, and almost 100¢/kg below where it started the year. This has brought the average price from $2288/head to $1715/head. Historically, it is still performing strongly, 4% higher year-on-year, and 11% and 27% above the five and 10-year averages respectively. NSW had 10,000 of the 15,000 national processor cow indicator eligible stock, and averaged 4¢/kg lower.
All the national steer indicators closed the week slightly down, by only 1-3¢/kg, while feeder heifers lost 10¢/kg and restocker heifers actually increased by 7¢/kg. This said, the category (along with processor cows) now sits at the lowest premium year-on-year, only 11¢/kg higher than the same week in 2025, with all other major national indicators sitting between 40¢/kg and 70¢/kg higher.
Yards still full of NSW cows
Next week
If turn-off out of northern NSW and southern Queensland continues off the back of a lack of rain in the coming weeks prices will remain under pressure. Historically the market is holding up relatively well considering, and when it comes to cows some restocker activity from further south should offer some support, as will the US recording the lowest quarter one beef cow slaughter in decades. Australian beef exports to the US are set to be higher year-on-year for April and further increase into the second half of the year.
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Data sources: MLA, Mecardo, Steiner Consulting Group
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