National cattle yardings eased 6% (down 5,105 head) to 81,428. Dalby saleyards stood out with its largest yarding in five years. Most indicators softened after last week’s long-term highs, but prices remain well above historical averages. Heavy steer prices are still only 10¢ under historical records. Steady yardings and strong weekly slaughter point to solid demand from processors and restockers.

The strong export demand for mutton, particularly from China, has continued to drive prices, with the eastern states mutton indicator sitting more than 30 per cent above year ago levels.

Markets lifted slightly this week off the back of slightly lower yardings and improved competition in sales but remained mostly unchanged from previous weeks. Yardings eased by 4,771 to 43,012 head, slightly below the four-week average but almost identical for the average for 2023.

Although new season lambs reached southern saleyards a little later than usual this year, yardings rose strongly during the last fortnight.

This week, yardings came back 33% for cattle and 10% for lambs. Getting stock to sales is becoming more difficult due to flooded roads, so producers are prioritising moving stock to high ground or preferencing direct sales from the paddock.

Limited rain was recorded this week, with mixed conditions predicted for the inland areas going forward.

The National Mutton Indicator has now recorded its 12th consecutive week of price decline. The current price is sitting at 269¢/kg carcase weight (cwt), the lowest level since early May, and 44% (211¢) below the five-year average. However, it is important to note this downward trend is not unusual for this time of year.

Young cattle  The EYCI has once again broken a record, achieving 941.50¢/kg cwt on Wednesday 30 June, 10¢ higher week-on-week. EYCI cattle throughput experienced a 24% decline since the previous week with 9,410 yarded, largely contributing to the record high. Looking ahead, good rainfall is predicted across most of eastern...

Final report

High slaughter numbers are putting the national mutton indicator under pressure as it begins its seasonal decline.