Australia-Beef trade.

AUSTRALIA-Cattle market

Rainfall restricts throughput

The overall supply for MLA’s NLRS reported saleyards plummeted 16% from the previous week, with most states experiencing significant downfalls. NSW yarded 19% less than the previous week whilst Victorian throughput slipped 16%. Queensland however went against the trend to yard 23% more than the previous week’s markets.

The larger yardings in Queensland was heavily influenced by the recent cooler weather encouraging produces to offload before winter settles in. Warwick experienced the first frost of the year which initiated a 27% rise in throughput. The public holiday next Monday also had implications for yardings as several markets will not be held, which saw Toowoomba yardings climb significantly.

The tighter numbers which were evident throughout NSW and Victoria was heavily influenced by recent rainfall across supply areas. The rainfall allowed producers to hold on, but also restricted the movement of cattle. The timely rainfall also encouraged producers to begin preparing for winter crops which had implications for throughput.

The majority of the yardings have predominantly been made up of young cattle and cows whilst grown steers suited for export slaughter have been in limited numbers. Qualities of the offerings have been rather mixed with plain cattle making up the largest percentage.

Varying market across eastern states

Cattle direct to feeders and slaughter have generally maintained their rates for the fourth consecutive week in a row. Despite a few alterations, the majority of contributors have held prices firm. Such implications have been the result of the high A$ and relatively tight supply following the Easter holidays.

At the conclusion of Tuesday markets, the Eastern Young Cattle Indicator (EYCI) lost 5.25¢ to settle at 316¢/kg cwt. The trade steer indicator dropped 8¢ – to 171¢ whilst feeder steer held firm at 169¢/kg. Japan ox improved 3¢ – to 161¢ and US cow finished 1¢ cheaper at 120¢/kg.