Cattle market alert

08 February 2012

Numbers bounce back

National cattle yardings at the physical markets reported by MLA’s NLRS lifted 36% on last week as every state turned off more supplies. Queensland throughput was up 88%, although numbers are still restricted with a few physical markets again postponed due to flooding. Consignments in NSW were 24% higher, while numbers across Victoria increased 21%. SA supplies lifted 35%, while throughput improved in WA with more pastoral cattle penned at Muchea.

Quality holding on

Quality remains good to excellent as the seasonal conditions remain strong due to the wet conditions. Cattle quality in flood affected areas is expected to decline in the short term, however grazing conditions in central Queensland will improve into the autumn. Grown cattle numbers were higher and quality was also good.

Competition drives prices

With several transport routes remaining shut or subject to weight restrictions the movement of cattle to markets has been difficult. This has resulted in strong processor demand in the physical markets and competition levels have stayed strong. After Tuesday’s markets the Eastern Young Cattle Indicator (EYCI) was firm on last week, settling on 394.25¢/kg cwt.

The trade steer indicator was 7¢ higher on 211¢ and feeder steer prices were 3¢ lower on 210¢/kg lwt. Heavy steer prices were also 3¢ lower on 182¢ and the medium cow indicator finished 5¢ dearer on 145¢/kg lwt.

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