Prices & markets

MLA Market Information provides the latest prices, reporting, forecasts and analysis for Australian and international red meat markets. MLA members receive free or discounted market reports, accessed below, and can subscribe to the Meat & Livestock Weekly eNewsletter and other MLA market information publications
Market news
28/01/15  Cattle market alert
23/01/15  Friday daily cattle summary
22/01/15  Over-the-hook cattle prices surge
22/01/15  Beef offal prices continue climb
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National trade lamb indicator
National daily indicators
28 Jan 2015
 Trade Lamb
551
▲ 4
 Heavy Lamb
561
▲ 4
 Mutton
349
▲ 1
 
2013
 
2014
 
2015


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Trends & analysis

Week ending 22/01/15 in review

  • The national medium cow indicator (400-520kg D3), reported by MLA’s National Livestock Reporting Service (NLRS), typically follows a very similar trend, and closely behind, Australian manufacturing beef (90% Chemical Lean (90CL)) export prices to the US (based on US imported 90CL indicators converted from US¢/lb CIF to A¢/kg FAS using the weekly average exchange rate and freight costs).
  • In fact, for the period from 1998 to 2011, the medium cow indicator averaged 70¢/kg cwt below indicative 90CL prices – coming as close as 5¢ behind during November 2004, and spreading to as much as 127¢ behind in August 2002.
  • Post 2011, however, an interesting dynamic has occurred, whereby the medium cow indicator averaged 189¢ behind 90CL prices – over $1.00 more than the average of the years prior. Additionally, the cow indicator only came as close as 106¢ behind 90CL prices, in March 2012, while during November 2014, extended as much as 385¢/kg behind.
  • The reason for the exacerbated divergence in recent years has been the combination of extremely high 90CL prices, influenced by tight US beef supplies, at the same time that the Australian beef industry has been pressured by widespread drought conditions. This has underpinned elevated slaughter levels, and minimal restocking interest.
  • Encouragingly, largely in response to the widespread rainfall across eastern Australia over the Christmas period, indicative cow prices have lifted significantly in a short period of time, closing the gap between 90CL and cows to 210¢/kg.
  • While this is still three times the long-term difference, it does suggest there is plenty of room for cow prices to improve, provided 90CL prices do not fall at a greater rate.

More red meat market trends and analysis

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Market news
28/01/15  Cattle market alert
23/01/15  Friday daily cattle summary
22/01/15  Over-the-hook cattle prices surge
22/01/15  Beef offal prices continue climb
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Weather watch

web-weather-watch_19-06-14.jpg

   

 

Heavy falls in the Top End

(Week ending 22/01/15)

Rainfall was mostly concentrated in the Top End this week, with very little received across the southern and western parts of the country. Between 50-100mm of rainfall was recorded across large swathes of far north Queensland and the NT, as the wet season continues.

More moderate falls were recorded right along the east coast, with only light showers extending into central NSW and Queensland. South Australia experienced a very dry week, as did southern and central WA, with almost no rainfall activity recorded at all.

 

Get the latest weather

Grain prices

22 January 2015


$/

tonne

Darling Downs

TW

 LY

Wheat

315

343

Barley

305

328

Sorghum

290

335

Riverina

TW
LY

Wheat

280

268

Barley

272

234

Sorghum*

nq

nq

*Includes freight (source: Profarmer)
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