Australian Cattle market alert
AUSTRALIA - Throughput at MLA’s NLRS reported saleyards fell in every state from last week, with 10% less numbers yarded nationally.Numbers in southern Queensland and northern NSW have tightened, despite only patchy rainfall being received over the past fortnight.
Quality has become more varied as summer progresses, with plenty of younger stock being forced onto the market as the northern weaning period approaches. Demand from restockers in areas where the season has improved has been strong, underpinning the market with good support from lotfeeders and the regular trade buying presence.
Young cattle rates solid
The benchmark Eastern Young Cattle Indicator (EYCI) gained 7¢ from last Tuesday to its highest point since early October, at 321.25¢/kg cwt. Restockers have been underpinning the market, with both trade and feedlot buyers continuing to show solid support.
Export rates recovered from some recent weaker pricing, with the tighter supply assisting the Japan Ox indicator to gain 6¢ while the US cow indicator increase 2¢ to finish at 175¢ and 121¢/kg respectively.
Over the hooks (OTH) cow prices turned around in NSW, Victoria and southern Queensland. The majority of cow categories increased with the exception of the very light weights.
TheCattleSite News Desk