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
27/08/14  Cattle market alert
26/08/14  Tuesday daily cattle summary
22/08/14  Friday daily cattle summary
21/08/14  Jitters in US cattle market, lean beef holding up
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Eastern states trade lamb indicator
Eastern states daily indicators
27 Aug 2014
 Trade Lamb
470
▼ 2
 Heavy Lamb
473
▼ 3
 Mutton
337
▼ 2
 
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2013
 
2014


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Trends & analysis

The week in review 21/08/14  

  • Australian female cattle slaughter in 2014 has been significantly higher than the long term trend, driven largely by the unrelenting drought conditions across large swathes of Queensland and northern NSW for the past two years.
  • In fact, for the year-to-June 2014, female cattle slaughter in Australia was 17% above last year’s drought-induced high level, and 27% above the five-year average for the period, at 2.3 million head.
  • Queensland has led the high female cattle slaughter, with the 965,000 females killed, up 21% year-on-year, while NSW has accounted for 483,500 head, up 22% over the period.
  • Due to the high turnoff, and very little restocker interest across many regions, the national average saleyard price for medium cows for the year-to-date (January to mid-August) is back 10% year-on-year and 15% on the five-year average, at 112A¢/kg lwt.
  • In contrast, the current situation in the US is the complete opposite; with beef cow slaughter for the first six months of the year down 15% year-on-year and 17% on the five-year average, while fed heifer slaughter is down 7% and 13% over the same periods respectively.
  • Underpinned by the significantly tighter female supplies in the US, indicative utility (cull) cow prices are up dramatically from year-ago levels and on the five-year average, by 24% and 29% respectively, at 311A¢/kg lwt.
  • While rain in Australia’s eastern states caused a significant contraction in cattle offerings this week, and the market responded accordingly across all categories, including cows, follow up rainfall will be required to sustain the recent gains and cause a sustained contraction in slaughter. While it may not occur in Australia for many months, the significantly improved US cattle market provides some indication as to the potential for cattle price increases, particularly females, once female slaughter rates ease and herd rebuilding demand reignites across the large cattle producing regions.
  • This price movement would have both benefits and downsides – the benefits accruing to those producers with stock available for sale, whether they are breeders or for slaughter, and the downsides for those producers that would need to purchase breeding stock at elevated prices.

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Market news
27/08/14  Cattle market alert
26/08/14  Tuesday daily cattle summary
22/08/14  Friday daily cattle summary
21/08/14  Jitters in US cattle market, lean beef holding up
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Weather watch

web-weather-watch_19-06-14.jpg

   

 

Moderate falls across the eastern states

(Week ending 21/08/14)

The much anticipated rain event over the weekend saw most of NSW and much of southern Queensland receive moderate falls of up to 50mm, causing cattle yardings to contract at the majority of markets reported by MLA’s National Livestock Reporting Service. Charleville recorded in excess of 50mm this week, while the Darling Downs did not receive falls as heavy as forecast, with less than 20mm recorded at Dalby. Eastern Victoria and SA also received some good rainfall, while in the west, drought affected areas of south-east WA registered showers between 10 to 20mm.

 

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Grain prices

21 August 2014


$/

tonne

Darling Downs

TW

 LY

Wheat

318

318

Barley

305

312

Sorghum

280

375

Riverina

TW
LY

Wheat

260

253

Barley

209

214

Sorghum*

nq

nq

*Includes freight (source: Profarmer)
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