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Low supply continues to drive markets
Cattle, sheep and lamb markets remained strong this week, with cattle yardings at MLA’s NLRS reported sales down 8% on last year, sheep 42% and lambs 15%.
The Queensland floods continue to hamper transport, with some sales cancelled again this week, and a public holiday affecting Victorian and SA numbers.
With restockers now active, it is the young cattle categories and cows that have benefited the most, with the EYCI reaching 350¢/kg cwt this week, up a further 5.5¢ for the week and 12% on last year. Similarly, feeder cattle rose 5¢, to 186¢/kg lwt, up 12% on last year. Japan ox lifted 10¢ this week, to be 8% above last year.
Cattle prices are probably now pushing against their peak, capped by weak underlying demand for beef in Japan and the US, strong competition in Korea and an A$ over 91US¢. Once cattle movement returns to normal, cattle prices are likely to ease back – towards a seasonal low in May.
Mutton sheep prices again set a record this week, at 355¢/kg cwt, up 80% on last year. Lamb price trends were mixed, having fallen from their February peaks of over 500¢/kg cwt to around 475-490¢ for well finished lines. Prices are likely to fall further this autumn, once numbers improve. 12/03/2010
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Friday daily livestock summary - 12/03/2010
At Armidale numbers increased with a good supply of young cattle and cows, while heavyweight grown steers were in limited numbers. Vealer steers to restock sold firm to 5¢ dearer while an increase in those suitable to the trade saw prices fall up to 16¢/kg. Heavyweight grown steers sold at unchanged rates. Cows were strongly sought after by restockers and processors for plainer lines, with the trend 3¢ to 9¢/kg dearer.
At Dubbo quality remained mixed with a slight increase in the number of vealers and a good offering of yearlings. Yearling steers to restockers mainly went to Queensland as prices remained firm. Heavyweight grown steers reached 188¢ to be 3¢/kg dearer. Cows gained 3¢ to 5¢ with medium weight D2’s averaging 135¢/kg.
Bairnsdale saw numbers fall by more than half due to the mountain weaner sales. Vealers were up to 10¢/kg dearer for both steers and heifers. Heavyweight yearling steers were 6¢ cheaper selling from 162¢ to 177¢/kg. Grown steers and bullocks slipped 3¢ to average 176¢/kg. Heavyweight beef cows lifted 4¢ to make from 124¢ to 154¢/kg.
At the close of Thursday’s markets the Eastern Young Cattle Indicator (EYCI) gained 5.5¢ on last week to settle at 350¢/kg cwt. The trade steer indicator lifted 3¢ - to 185¢ whilst feeder steers improved 4¢ to 186¢/kg. Japan ox was 6¢ dearer at 181¢ and US cow finished 2¢ higher at 136¢/kg.
Wagga yarded more numbers and quality was good throughout. Light lambs returning to the paddock were firm to $5 dearer at $90/head. Trade weights were up to 13¢ stronger, to mainly sell from 470¢ to 520¢/kg cwt. Heavy lambs peaked at $155/head, with most pens averaging between 465¢ and 491¢/kg cwt. Merino ewe sales were again dearer with sales climbing by $4/head, as processors secured pens from 320¢ to 400¢/kg cwt.
After Thursday’s markets the eastern states sheep and lamb indicators lifted. Restocker lamb sat at 525¢ and Merino lamb 426¢/kg cwt. Light lamb was firm at 456¢, while trade lamb was 5¢ cheaper at 490¢/kg cwt. Heavy lamb lifted 4¢ in value to 476¢, whilst mutton remained high finishing at 365¢/kg cwt.
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Floods affect goat movements 12 / 03/ 2010
Goat prices lifted marginally, on the back of widespread rain in south western Queensland and northern NSW. Supply has all but dried up, and processors across the east coast are expecting supplies to remain tight in coming weeks. However, goat quality is expected to lift, as heavy well conditioned stock is expected to be available.
The floods in Queensland were largely responsible for goat slaughter in the eastern states falling 43% on last week, and 48% year-on-year, according to MLA’s NLRS weekly slaughter data.
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