Weekly cattle and sheep market wrap
30 June 2023
Key points:
- Rain in some areas helped improve restocker prices in northern Australia.
- Supply of cattle, sheep and lambs tightened again.
- Slaughter has picked up across cattle, sheep and lambs due to some processors coming back online after maintenance shutdowns.
Cattle
Some rain in northern Australia has helped to lift restocker sentiment and prices in the market this week. Restocker buyers were more active at Roma and Dalby, with the supply of weaners increasing at Roma.
Some cattle indicators saw a tightening in throughput, with processor cow numbers softening by just under 500 head. Other indicators increased – there were nearly 1,000 head more restocker yearling heifers and just under 600 more yearling steers this week.
The Restocker Yearling Heifer indicator improved by 6¢ week-on-week despite throughput increasing by 915 head. Roma contributed 49% of the throughput and saw a larger number of restockers at the saleyard. Blackall increased its weekly yardings by 4,392, with many restocker buyers at the sale bidding for good quality cattle, causing prices to lift 48% week-on-week.
The tightening in throughput for the Processor Cow indicator helped to lift prices 4¢ week-on-week. A bigger presence of export and domestic buyers at Wodonga supported sales, with processor prices improving at this saleyard.
The Feeder Steer softened after its small recovery last week to 308.66¢/kg liveweight (lwt). Cattle in the 330–400kg and 400+kg weight ranges are fetching the highest premium in this indicator and are making up most of the numbers. Good quality young cattle and a smaller yarding at Carcoar allowed for strong feeder prices at the saleyard.
Sheep
The sheep indicators eased quite significantly across the board, with yardings also softening 36% for sheep and 26% for lambs.
The movement of older-season lambs is tightening the supply of heavy lambs available. Yardings through the Heavy Lamb indicator eased by just under 17,000 head. Heavy lamb prices have eased 37¢ week-on-week, due to volatile prices at Wagga Wagga and dampened supermarket activity. Other processors at the saleyard were very selective, taking only the best lambs with good weight and finish. Ballarat had a smaller yarding this week but some good quality heavy lambs helped to lift prices.
Mutton prices also eased a further 19¢ week-on-week, with Merinos in the greatest supply in the indicator at 23,926 head. Heavier sheep 30+kg were able to maintain prices, only easing 2¢ week-on-week compared to the 14–18kg weight range, which softened 22¢ week-on-week, or the 24–30kg which eased 38¢. Reduced demand from buyers is causing this pricing variance.
Trade lamb prices eased 25¢ week-on-week and the market continues to be driven by quality and weight. Ballarat, with a good line of trade lambs available this week, had very strong prices trading at 591.83¢/kg carcase weight (cwt). Overall, the yardings through the indicator decreased by 10,242 head week-on-week.
Slaughter
Cattle slaughter lifted this week, back to 123,953 head – the second highest weekly cattle slaughter since July 2020. This is just under the numbers reached three weeks ago and sits 24% above year-ago levels.
NSW had a significant increase in numbers week-on-week, lifting by 19%.
Sheep and lamb slaughter also lifted after some plant maintenance shutdowns. Sheep slaughter remains well above year-ago levels (58% higher) with a total weekly kill of 142,508 head. Lamb slaughter picked up to 426,711 head.
Goat slaughter remains steady at 37,935 head.
