National cattle yardings fell 22% to 81,928 head after the previous week’s high of 103,794 head. This was fuelled by attractive market prices for producers and anticipation of the market’s end-of-year break.

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.

Cattle prices are tracking well above year-ago levels, with young cattle maintaining a premium to their finished counterparts.

Global cattle prices converge

Over-the-hook (OTH) cattle indicators gained momentum this week, following tightened supply resulting from widespread rainfall across many parts of the eastern states.

Changing market dynamics in both Australia and the US has seen a lift in finished cattle prices, whereas prices in Brazil have remained largely unchanged.

For the week ending Tuesday, the Eastern Young Cattle Indicator (EYCI) improved 10¢ on the week prior, to average 488¢/kg carcase weight (cwt), back 1% on year-ago levels.