Eastern young cattle indicator
Eastern states daily indicators
21 Nov 2014
Hvy Steer (lwt)
Med Cow (lwt)
Rainfall this week was mainly limited to the southern regions, which provided some support for the lamb markets, despite the seasonal influx in supplies.
Nationally, trade and heavy lambs increased the greatest, up 6¢ and 7¢ respectively from last week, each at 467¢/kg cwt – and up significantly from year-ago levels.
The cattle market, however, continued to feel the pressure of the dry northern conditions, with most national indicators down again for the week, and continuing what has been a gradual seasonal decline in recent weeks.
At the close of Thursday’s markets, the trade steer indicator was 339¢/kg cwt, back 11¢/kg cwt, while heavy steers lost 10¢, to finish on 328¢/kg cwt.
In more positive news for the industry, the A$ softened 1¢ this week, to close Thursday at 86US¢ – further assisting trade, which, mid-way through November, beef exports are on track to again exceed 100,000 tonnes swt for the month, while lamb will approach 20,000 tonnes swt.
While the export environment is strong, the number of producers faced with deteriorating feed and water conditions is increasing, heightening the hope for a break in the drought affected north. Once significant seasonal rainfall does occur, supplies are anticipated to contract considerably, further supporting both beef and lamb prices – which, given current forecasts, may not happen until the New Year.
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There was some welcome relief in places across the country this week, as falls between 15mm and 25mm were registered in south WA, most of Victoria and into NSW, as well as the Queensland south-east coast (Australian Bureau of Meteorology).
However, key cattle producing regions throughout central Queensland and parts of NSW and the NT are yet to have any decent summer rain, with the poor feed and water conditions becoming increasingly challenging for producers.
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20 November 2014