Early 2026 restocker lift as demand strengthens

22 Jan 2026

Key points

Restocker yearling steer prices have lifted 60¢ in 2026.
Queensland’s flooding and NSW’s dry conditions have disrupted supply, creating a quality-driven market.
Firm export and processing signals are supporting producer confidence.

The National Restocker Yearling Steer Indicator (NRYSI) has enjoyed a strong start to 2026, pointing to increased competition for young cattle returning to grass.

During the first weeks of 2026, the Restocker Yearling Steer Indicator lifted 60¢ to 504¢/kg liveweight (lwt). Active restocker demand, particularly from southern Queensland and northern NSW, underpinned this price rise. Importantly, the lift coincided with disrupted market flows and tightening in the supply of good quality restocker-suitable steers.

Restocker yearling steer prices are currently 108¢/kg higher year-on-year but below the recent November 2025 peak of 553¢/kg lwt.

Most yards resumed sales after the Christmas-new year break in the week ending 9 January 2026 but they restarted under challenging seasonal conditions.

Flooding in Queensland led to market cancellations (Gracemere) and kept state-wide yardings constrained. In parts of NSW, hot and dry conditions increased the proportionate offering of secondary-condition cattle – creating a quality-driven market shift. When fewer quality steers are available, buying pressure concentrates on lines best suited to backgrounding programs and weight-gain pathways. This subsequently lifts price averages for compliant drafts and discounts secondary lines.

Broader supply chain settings have supported price increases. Elevated turnoff through 2025 has continued into 2026, with international demand helping to underpin finished cattle pricing. Tight beef supply in the United States and mainland China’s increased appetite for grainfed product remain key influences on export values and processors’ demand. These issues reinforce confidence in the forecasted price outlook for heavier cattle − an important consideration for restockers and backgrounders paying more for young stock.

Ultimately, while yardings fluctuate, restocker values are driven by producers’ market confidence and buyers’ confidence to convert lighter cattle into higher-value feeder or finished outcomes.

Attribute content to Emiliano Diaz, MLA Senior Market Information Analyst

Information is correct at time of publication on 22 January 2026.

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