Australia-Last weeks meat trade.
Monday’s livestock summary
20/04/2009
The first quarter of 2009 witnessed a reduction in yearling steer saleyard throughput from the corresponding months in 2008 and 2007 – of 4% and 19%, respectively. Varying seasonal conditions and volatile markets have played integral roles in defining the trend across reported saleyards.
Total grown steer throughput during the first quarter climbed 17% on 2007 and 18% on 2008. One of the factors contributing to the rise in grown cattle was the reduction of young cattle offered, highlighting that producers opted to take advantage of the lower grain prices and improved pastoral conditions.
The Eastern Young Cattle Indicator lifted 8.75¢ on the previous week to settle on Thursday’s close at 323¢/kg cwt. In a similar fashion, the trade steer indicator improved 4¢ on last week, to 174¢/kg lwt. Both indicators have been influenced by the shorter week and the heavy rainfall, which sparked restocker activity. The feeder steer indicator has held firm at 166¢/kg whilst Japan ox lost 1¢ to settle at 159¢/kg. The rising dollar and disrupted weeks have subdued feeder and processor activity, having detrimental effects on values.
Trade lambs made up the largest proportion of the national lamb offering this week, accounting for 42% of lamb yardings, followed closely by light lambs, which made up 37%. Heavy lamb numbers increased on last week to account for 21% of national yardings. The national trade lamb indicator finished Thursday at 466¢/kg cwt – 21¢ higher than last week and 122¢/kg above the same time last year.
National average mutton prices ended Thursday at 228¢/kg cwt, the highest since June 2005 – on intense competition between processors, live exporters and restockers for the tight sheep yarding. Since the start of 2009, national mutton supply at MLA’s NLRS reported saleyards has declined 2%, to 1,723,922 head, when compared to the same period last year.
Restockers have purchased 15% of lambs offered at MLA’s NLRS reported saleyards since the beginning of the year – a two percentage point increase. Lotfeeders have also been more active at physical markets, purchasing 4% of the national lamb offering, one percentage higher year-on-year, as lower grain prices and higher lamb prices have enabled some recovery in the lamb finishing sector.
