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Tuesday Livestock Summary- 19 August 2008
Numbers remained virtually unchanged at both Toowoomba sales, however there was a shorter supply of grown cattle, and increased numbers of young classes. Values generally improved especially feeder and restocker classes. Heavyweight steers averaged 9¢ dearer at 190¢, while cows made gains of 5¢/kg.
At Tamworth, there was a small increase in numbers. Generally the young cattle market was 5¢/kg dearer, although some of the lesser quality cattle saw some easing in values. The continued decline in the A$ combined with supply issues saw all classes of export cattle sell to a dearer trend, with grown steers, cows and bulls 5¢ to 10¢/kg more.
Numbers were steady at Wagga and quality across all grades was good to mixed. The young cattle market was mixed with good vealers dearer and yearlings cheaper. The mixed selection of grown steers was firm to 1¢/kg dearer. Medium D3 cows sold for 6¢/kg cheaper.
Across the eastern states the trade steer indicator gained 2¢ on last week, at 196¢; while the feeder steer lifted 1¢; to 183¢/kg. The Eastern Young Cattle Indicator (EYCI) finished Monday 1¢ down on last week; at 350.25¢/kg cwt. Japan ox and the US cow indicators both lifted 3¢ to finish at 191¢ and 141¢/kg respectively.
Bendigo had another large yarding of off shear and shorn ewes and weathers and young lambs. All buyers were represented. Quality of young lambs was varied, averaging $10 to $20/head dearer. Old lambs averaged $3 to $10/ head dearer. Merino lambs sold up to $85 and heavy lambs sold to $101/head. Overall, mutton was $5/head dearer.
Numbers slipped back at Dubbo compared to last week’s record sale. Extra buyers from the south competed and most categories sold firm to dearer. Trade new season lambs lifted $2/head to average 484¢ to 496¢/kg cwt. Heavyweight lambs gained $4/head. Sheep quality was mixed and averaged 192¢ to 220¢/kg cwt.
All eastern states lamb prices gained between 1¢ and 22¢/kg cwt, apart from restocker lambs. The trade lamb indicator rose by 4¢, to 464¢ and the heavy lamb indicator was up by 12¢ to finish at 475¢/kg cwt. Merino lambs had the largest increase, with the indicator up 22¢, to finish at 353¢/kg cwt. Mutton was 1¢ dearer at 196¢/kg cwt.
Wool holds onto 3.2pc surge, as market steadies
Wool's key eastern market indicator (EMI) on Thursday held onto all the big price gains made on Wednesday, as the market steadied after its price surge this week.
The EMI has closed this week 3.2pc higher, at 873c/kg, unchanged from Wednesday’s indicator.This week has seen a strong recovery from the last week's dismal re-start to the 2008-09 selling season, with the weaker $A the main contributor to the price surge.
In a good sign pointing to genuine stronger wool demand, the EMI rose on Thursday even when expressed in $US currency, up by US5c/kg, to US759c/kg.
Closing prices for the regional indicators on Thursday were:
• Northern indicator: down by 7c/kg, with the indicator closing on 904c/kg, but higher for the week.
• Southern indicator: up by 7c/kg, with the indicator closing at 848c/kg, adding further to Wednesday’s gains.
• Western indicator: down by 5c/kg, where the indicator closed on 844c/kg, but higher for the week.
A total of 44,500 bales was rostered for sale across the three main centres this week and, as a result of the stronger market, the pass-in rate dropped to 11pc.
The EMI actually rose on Thursday when expressed in $US currency, up by US5c/kg, to US759c/kg - a positive indicator of stronger demand for wool.
Source: QCL 14/08/2008 7:24:00 PM
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Thursday Livestock Summary 14/08/08
The recent lift to prices encouraged a much larger yarding at Dalby. Young cattle generally improved, with feeder and slaughter grades 5¢ to 7¢/kg dearer. Strong interstate and local competition resulted in grown steers and bullocks climbing in value by 4¢/kg. However cows were not able to maintain recent prices and values eased 1¢ to 4¢/kg.
At Casino, the number of cattle yarded was up slightly with young cattle making up a large percentage. Competition was weaker with young cattle slipping 6¢ to 10¢/kg. The yarding of export cattle consisted mainly of cows, with a few pens of grown steers and heifers. Cows gained 7¢/kg due to strong competition.
Numbers at Warrnambool again eased back, due to the cold weather and cold conditions. The better yearling steers and heifers maintained recent good price rates with C 3 and 4 score steers making 175c to 205c/kg. Many classes of cows showed price rises of between 10¢ to 20¢/kg as all the regular export meat company buyer competed strongly.
There were only minimal movements to eastern states indicators from last week. The trade steer indicator gained 2¢ on last week to 196¢, while the feeder steer was firm at 182¢/kg. The Eastern young cattle indicator (EYCI) was 1.25¢ below last week, at 351¢/kg cwt. The Japan ox sat at 190¢ and the US cow indicator at 144¢/kg.
Only a small offering of sheep and lambs were yarded at CTLX Carcoar and most were showing signs of the cold weather. Due to the small yardings, only a few buyers were in attendance and most trades sold $4 to $5/head cheaper. Trade lambs ranged from $100 to $107/head, averaging 475¢/kg cwt. The few sheep were mainly cross bred ewes, ranging from $45 to $60/head.
At Hamilton, sheep numbers were up but lamb supply declined in an overall average to plain quality offering. Lamb prices were equal to dearer for the lightweight lambs but averaged $2 cheaper for trade weights and $5 to $6/head lower overall for heavy lambs. Sheep sold generally $2 to $5/head cheaper.
In comparison to the same time last week, all indicator prices except restocker lambs, which were unchanged at 333¢, slipped by 11¢ to 25¢/kg cwt. Trade lambs averaged 459¢ and heavy lambs averaged 453¢/kg cwt. The mutton indicator stood at 194¢/kg cwt.
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Beef exports to South Asia up
Australian beef exports to South-East Asia/Chinas during July jumped 38% compared with July 2007, to 9,101 tonnes swt. Volumes sent to the region during the calendar year to July also bounced 33% year-on-year to 53,532 tonnes swt, the highest since 1998 – 10% of total Australian exports during the period. Driving the growth was strong demand for manufacturing and secondary beef cuts, particularly following further rises in Brazilian cattle prices.
During January to July, Australia shipped an increasing proportion of manufacturing beef to South-East Asia/Chinas, 11% compared with 5% in 2007. Manufacturing beef exports to the region surged 106% to 21,972 tonnes swt, the majority of which was sent to Indonesia and the Philippines.
Shin shank exports to these markets also increased 15% during the seven months to July, to 9,762 tonnes swt, with rises in the volume sent to Indonesia offsetting the fall in trade with Taiwan. Beef neck exports also soared 142% to 4,295 tonnes swt, driven by Singapore, Indonesian and Malaysian demand for soup dishes – a substitute for tails.
Meanwhile, thick flank/knuckle exports to South-East Asia/Chinas were influenced by strong demand from Russia, falling 38% year-on-year, to 2,091 tonnes swt, representing only 4% of total shipments to the region.
With Brazilian cattle prices remaining high and the A$ easing, Australian beef exports to South-East Asia/Chinas are expected to remain firm in the near future.
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"Strong returns from agriculture- are now making it very attractive"
A new PPB Group venture has spent $135 million buying financially distressed rural properties at the top of the Murray-Darling basin. Australian Farms Investments is also raising a further $160 million to acquire more properties that it will recapitalise and aim to make profitable. PPB chairman Bill Moss, formerly of Macquarie Bank, says strong returns from agriculture - long seen as not a sexy’ investment - are now making it very attractive.’
Source: The Australian Financial Review, 11 August 2008, Matthew Cranston, p.1
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