Eastern states over-the-hook cattle indicators jump
09 July 2015
Following the surge in physical market prices, over-the-hook (OTH) indicators lifted in all of the eastern states this week, with the largest increases for finished cattle, as supply continues to tighten. Premiums for steers in Victoria and NSW remain evident, compared to indicative prices in Queensland, however OTH cow indicators are still comparatively close between the three states.
Trade steers (240-260kg cwt) in NSW increased 17¢ week-on-week, to 476¢, while an increase of 15¢ was recorded in QLD, where the indicator reached 450¢/kg cwt. Despite reports that offerings were generally steady in Victoria, the OTH trade steer indicator jumped 14¢ to 512¢ – 62¢ and 36¢/kg cwt dearer than QLD and NSW, respectively.
Heavy steer (300-400kg cwt) indicators experienced a similar lift, with NSW and Victoria both increasing 16¢ on last week’s levels, to 487¢ and 504¢, respectively, while the Queensland indicator reached 449¢, up 11¢/kg cwt.
Medium cow (260-280kg cwt) OTH indicators jumped 10¢ in both QLD (398¢) and Victoria (413¢), meanwhile NSW rose by 6¢ to 400¢/kg cwt.
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