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
22/10/14  Cattle market alert
21/10/14  Tuesday daily cattle summary
17/10/14  Friday daily cattle summary
16/10/14  WA weekly cattle summary
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Eastern states trade lamb indicator
Eastern states daily indicators
22 Oct 2014
 Trade Lamb
460
– NC
 Heavy Lamb
455
▲ 1
 Mutton
282
▼ 2
 
2012
 
2013
 
2014


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Trends & analysis

The week in review 16/10/14  

  • While heavy cattle softened somewhat this week, nationally, prices have held on very well this year, compared with lighter categories, with the national heavy saleyard steer indicator (C4 500-600kg lwt) consistently higher than the corresponding period last year.
  • Heavy cattle usually maintain value during droughts, as they become scarce, and the past two years have been no exception – with the situation further assisted by the current very strong international demand for beef and high export prices.
  • At the close of Thursday’s markets, the heavy steer saleyard indicator was 366¢/kg cwt, up 31¢ on the same week last year.
  • Similarly, the national over-the-hooks (OTH) heavy steer indicator (300-420 kg cwt A-C) this week was 373¢/kg cwt, continuing the upward trend that commenced in February. In fact, the heavy steer OTH indicator has only exceeded the 350¢/kg cwt mark on two other occasions (September 2001 and April 2011), before declining fairly quickly afterwards, largely due to surges in supply.
  • Given the current strong export dynamics, and the fact the indicator has increased despite the unprecedented supply, heavy OTH prices are likely to remain strong over the coming months. Further to this, the current seasonal outlook suggests that heavy cattle numbers could also be limited by feed availability.
  • Looking forward, while heavy cattle prices have been robust, it’s the trade cattle that tend to increase the greatest after a break in seasonal fortunes, largely driven by strong restocker activity. At present, such activity remains minimal, yet the national trade steer indicator has averaged 366¢ since the start of spring, finishing this week at 354¢/kg cwt, up 31¢ year-on-year.
  • While the feedlot buyers have been behind the increase, further gains are likely once restocker interest resumes.

More red meat market trends and analysis

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Market news
22/10/14  Cattle market alert
21/10/14  Tuesday daily cattle summary
17/10/14  Friday daily cattle summary
16/10/14  WA weekly cattle summary
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Weather watch

web-weather-watch_19-06-14.jpg

   

 

Some eastern states rain moves inland

(Week ending 16/10/14)

Most rainfall this week was in the eastern states, with up to 100mm registered along coastal NSW, during the severe storms earlier in the week.

Welcome rain of up to 25mm covered some inland regions of Queensland, while Victoria registered good falls for most of the east and south of the state, with the north-western corner remaining dry. Most of WA reported no precipitation this week, with only pockets of 1mm to 15mm across northern WA and the NT.

 

Get the latest weather

Grain prices

16 October 2014


$/

tonne

Darling Downs

TW

 LY

Wheat

303

298

Barley

277

273

Sorghum

272

305

Riverina

TW
LY

Wheat

260

270

Barley

238

215

Sorghum*

nq

nq

*Includes freight (source: Profarmer)
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