Brazil is the world’s largest beef exporter and, therefore, has a significant impact on global exported beef demand. Livestock pricing is heavily influenced by supply and demand dynamics. This means cattle prices in Brazil greatly affect the global competitiveness of Australian beef.

The cattle market was generally positive but cattle yardings eased by 6,087 head. The Feeder Steer Indicator lifted 7¢ to 426¢/kg liveweight (lwt). Fewer heavy export cattle were presented, driving greater lot-feeder cattle purchases. With short supply of well-finished stock, prices lifted in NSW (+25¢) and Victoria (+11¢).

Cattle price stability has built market confidence, despite a more subdued week. Cattle yardings eased by 17,755 to 55,996 head.

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

Global cattle prices converge

Cattle prices approach historical highs

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.