VIC weekly cattle summary
10 February 2012
Mixed demand
The larger supply of cattle at MLA’s NLRS reported markets met with slightly increased competition for the young cattle only. Wodonga and Pakenham were the largest markets and accounted for just under 40% of the states yarding.
Although the supply increased by around 7%, young cattle numbers were similar but grown cattle were more prevalent. Pasture conditions vary greatly across the state, and this is presenting a very mixed offering of cattle, both between markets and within markets.
Export processors were more subdued with the increasing value of the A$, which briefly rose to just over 108¢ US, having an effect. While this is an issue, there is also a lack of demand from Japan for product. There are reports also that both Japan and South Korea are sourcing cheaper product from the United States. This scenario affected prices for grown steers and cows. However, there were discrepancies between markets. There was some competition from northern processors, and depending where they purchased, price variations differed.
As this scenario played for grown cattle, varying quality and at times, more competition for the smaller numbers of young cattle created mixed trends. Generally vealers sold unchanged to dearer, while yearling steers and heifers were anywhere from 15¢ cheaper due to plainer quality, and 10¢/kg dearer on the better bred or finished lines. Some of the extra competition came from feeders with some orders returning to physical market after a 6 to 8 week break while the weaner sales were in progress.
Mixed price trends
The top of the vealers at MLA’s NLRS reported sales was 245¢/kg with most of the better quality lines making from 205¢ to 235¢/kg. However, with some districts now being dry there was a large variation in quality, and prices ranged from 140¢ to 200¢/kg for a broad range of weights. This wide range in prices occurred for yearling cattle too. Some supplementary fed yearlings sold to 225¢, but most steers sold between 175¢ and 198¢. Heifers of similar quality made from 165¢ to 185¢/kg. Due to the solid feedlot and restocker demand, they purchased a large percentage between 185¢ and 215¢/kg.
Grown steer prices varied from the start to the end of the week, and for age, weight and quality issues. This resulted in young, mouthed steers making to 200¢, as heavy steers sold to 196¢, and prime bullocks reached 192¢/kg. However, most of the C muscle steers and bullocks sold closer to 180¢/kg. In a general cows were cheaper. The good quality beef cows averaged 132¢, and lean cows mostly sold closer to 128¢/kg. There were large numbers of over conditioned cows, carrying at times in excess of 50mm of fat, that sold from 85¢ to 125¢/kg. The carcass weight price was mostly from 264¢ to 291¢/kg.
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