Weekly Australian Cattle Summary

AUSTRALIA - This report is a collection of weekly cattle price summaries from each Australian state by the Meat & Livestock Australia.
calendar icon 27 April 2007
clock icon 11 minute read

New South Wales

Numbers and quality fall
Early-week sales continued the trend of the past month with plain conditioned yardings meeting lack lustre competition from all buying sectors. The ANZAC holiday on Wednesday allowed vendors and buyers to assess the prospects of forecast rains for the weekend. The mood of the market had lifted sharply by Thursday as the chance of rain improved and prices lifted accordingly. Price falls of between 5¢ and 20¢/kg at early sales were replaced by rises of a similar magnitude with restockers and feedlots leading the trend.

The one consistent factor at all the sales held was the significantly smaller yardings with all centres reporting falls of 30 to 70% on the previous week. The much cheaper market of the past fortnight was a deterrent for some producers but the general lack of numbers after more than six months of sustained herd reduction was also a significant factor. With or without a seasonal break, numbers are expected to continue to decline as is condition and quality as producers find it increasingly difficult to finish cattle.

The strong promise of rain lifted prices sharply for most categories of young cattle at sales on Thursday but with falls early in the week, average prices across all sales reflected mixed fortunes.

Light conditioned cows again dominated the export sections at all sales with grown steers and bullocks too few in number to be quotable in most cases. Restocker interest was evident on suitable light weights and slaughter cows reflected the mid week change in fortunes with prices falling further on Monday and Tuesday but recovering substantially on Thursday.

Prices react to rain promise
With restockers eager to generate cash flow in the event of a seasonal turn-around, light weight vealers returning to the paddock showed the greatest price improvement. Medium weight steers ranged widely from 138¢ to 204¢ but averaged 184¢, to be 19¢/kg dearer. Heifers were also up 10¢ to average 161¢/kg.

Feedlot buyers were more cautious with prices varying around 4¢ either side of firm, averaging close to 165¢/kg for yearling steers. Processors were forced to lift their bids as indicated by medium weight C3 steers which reached 214¢ to average 160¢ or 9¢/kg dearer. Light yearling heifers to kill were also 4¢ dearer at an average of 139¢/kg.

The late improvement in prices was not as pronounced in an export sector, still weighed down by the strong A$. Grown steers held firm to slightly cheaper, ranging from 130¢ to 163¢ and heifers were also slightly cheaper, averaging 139¢/kg. Restocking light cows averaged 8¢ to 13¢ dearer, ranging widely but averaging around 88¢, but all other slaughter categories fell by 2¢ to 9¢/kg. The better-covered D muscled cows in all weight ranges made from 100¢ to 124¢/kg.

Victoria

Numbers recline
After the large increases in throughput over the past fortnight numbers declined by nearly 65% at MLA’s NLRS reported saleyards and returned to levels of three weeks ago. No sales were held on Wednesday due to the ANZAC day public holiday. The weaker price trend of the previous week may have also contributed to some producers opting not to sell, while some forecasts of rain was enough to deter others from selling. All centres reported lower volumes with last week an exceptionally high turnoff week throughout the state.

Buyer strength was also weaker, particularly at the beginning of the week with many meatworks operators purchasing on a day by day basis due to not having feed to hold stock and the erratic nature of the market. Lower supplies and some improved competition, particularly in Gippsland, assisted enquiry. The high value of the A$ and weaker export markets continues to have a negative effect on export cattle demand, whilst trade demand is being dictated by supply.

There was a much improved quality penning at Pakenham, whilst the northern markets of Wodonga and Shepparton continue to be inundated by cattle forced onto the market due to feed and water constraints. Lower yielding beef and dairy cows have been in larger percentages, with demand for these lines weak and prices are being discounted severely. Restocker and feeder demand has been softer, with processors purchasing at lower price levels, with only the supplementary fed pens received spirited bidding.

Export prices down, trade up
Export cattle prices fell away again after the weaker physical market trend across all grades last week. Conversely, yearling steers to the trade and feeder steers improved in value, largely due to the tightening in supply. It was more of price recovery than price buoyancy, with last week’s dramatic reductions requiring a further tightening in supply or a sudden turnaround in seasonal conditions.

Vealers bounced back to fortnight ago levels. Vealer steers to the trade averaged 186¢ and vealer heifers 176¢/kg. Last weeks top price was eclipsed, with a good run of heavy B2 vealer steers to the trade selling to 247¢/kg for four standouts at Pakenham. Yearling steers to feed gained 4¢ to average 163¢/kg. Slaughter grades of yearling steers were 10¢ higher, averaging 186¢ while heifers were unchanged at 160¢/kg.

Grown steers dropped 1¢ to average 163¢/kg for prime lots. Bullocks were similarly cheaper, at 161¢/kg. Grown heifers sold at firm levels of 125¢ to 128¢/kg. All light and lower yielding cows were cheaper. Lightweight cows sold at 88¢ and mediums from 92¢ to 98¢/kg. Heavy beef breeds sold to 133¢/kg. Best dairy cows averaged mainly from 85¢ to 95¢/kg.

South Australia

Cattle numbers retreat
Cattle numbers dropped dramatically with perhaps last week’s much lower prices, along with the prospect of some decent rainfall forecast for Thursday and Friday or maybe numbers are tightening. The rain would be very welcome for a number of producers as this will be their last chance to hold onto their stock and finish them properly.

Naracoorte’s numbers fell to 383 head in one of the smallest yardings for some time. Quality was mixed although there were a small number of excellent supplementary fed steers and heifers offered. The latter however probably did not make as much as they should have due to being HGP treated. The smaller numbers led to some interesting prices being paid for lightweight Angus vealer steers peaking at 196¢/kg to a restocker. Yearlings sold at mostly unchanged rates, while a processor and a wholesaler sourced the heavier weight grown heifers at weaker rates.

SA LE on the other hand still managed to yard 1,320 head in a very mixed quality yarding that feature many cattle in store condition. A Victorian wholesaler was an absentee, with quality being the main criteria for local butchers, wholesalers and processors with rates quite firm where quality was good, however the large numbers of 1 and 2 score cattle led to an easing trend. One category that definitely sold to a weaker trend were cows at both centres as prices dropped below 110¢/kg.

Millicent could only find 309 cattle before going into its normal fortnightly mode.

Prices varied
Feeders and restockers sourced a large percentage of the young cattle categories that led to a fluctuating trend. Millicent, though, seemed out of context with other young cattle prices due to a strong Victorian order. Wholesalers and processors were keen to reduce export prices further with so many cattle being booked in direct and most abattoirs working extra shifts. Vealer steers sold mainly to feeder and restocker orders at rates mainly unchanged to 13¢ dearer, and mostly between 160¢ and 196¢/kg. A small number of vealer heifers were shared between the trade, feeder and restocker orders at rates ranging from 7¢ dearer, to 6¢ lower as most sold between 145¢ and 186c/kg. Yearling steers ranged from 12¢ dearer peaking at 208¢ for bean finished medium weights, while being 3¢ to 12¢/kg less on all other sales. Yearling heifers followed a similar pattern and generally ranged between 11¢ dearer, and 11¢ easier in a wide spread of prices between 88¢ and 201¢/kg.

There were too few grown steers penned to form any trend, with SA LE sales between 140¢ and 156¢/kg on the 22 offered. Cow prices continued to retreat as most attracted rates another 7¢ to 18¢/kg less.

Queensland

A large reduction in supply
A combination of the rapidly declining prices the previous week, and the short working week resulted in a large reduction in supply of 57% at physical markets covered by MLA’s NLRS. The special sale at Dalby after the Anzac Day holiday also attracted a much smaller number of cattle, as other centres completely withdrew from their selling program.

Quality is rapidly falling in line with the season. Cow numbers remain relatively high and contain large percentages of young grades in the low fat score ranges, as more producers continue to destock their properties. The supply of calves being forced onto the market at present is increasing on a weekly basis as producers try to offload as many as possible before winter. Despite the drop in supply, values continued to fall for most descriptions at early week markets. However at Warwick a bright spot appeared in the market as slaughter lines of vealer heifers and calves to both the trade and restockers enjoyed a lift in price.

Late in the week at Dalby forecast rain and smaller numbers saw this trend continue. Calves to restockers were noticeably dearer lifting 20¢ to 30¢/kg. However half of this improvement could be attributed to the better quality grades present in the selling pens. The hint of some rain also saw cows attract strong support from both restockers and processors.

The continuing dry whether it is keeping grain supply tight with most of the buyers staying out of the market as they wait to see if some winter planting rain develops this weekend over the eastern seaboard.

Mixed trend in values
Calves made up 35% of the total number of young cattle offered, the largest samples returned to the paddock over 20¢ dearer at 175¢, with some well bred lines reaching 230.2¢/kg. Vealer steers mostly sold to feeder operators at 179¢, some B muscled grades reaching 218.2¢/kg. The relatively short supply of vealer heifers improved 4¢ and sold to the trade at 150¢, the occasional sale to 193.2¢/kg. Yearling steers experienced a mixed trend in values, lightweight lines to restockers lifted 10¢, with a large sample averaging 172¢/kg. However average prices for most other categories received losses of 4¢ to 7¢/kg. Yearling heifers showed a similar trend with lightweight slaughter grades firm to dearer, and feeder classes a few cents cheaper. Feeders in the C3 range averaged 147¢, and D2s to restockers 126¢/kg.

Grown steers suitable to feed in the medium weight range lost 5¢ to average 155¢, with sales to 160¢/kg. Export slaughter lines of heavy steers were 9¢ easier at 162¢, the occasional sale to 174.2¢/kg. A small sample of bullocks made from 155¢ to 164.2¢/kg. Cows to restockers averaged 65¢ for the lightweights and 91¢/kg for medium weights. Good heavy cows were firm at an average of 125¢, a small selection of C muscled grades reached 143.2¢/kg.

Western Australia

Rainfall brings hope to southwest
Weather fortunes remain fickle in the southwestern corner of the state. Thunderstorm activity early in the week brought solid rainfall to eastern areas in the wheatbelt and Great Southern regions. Unfortunately those in the Midwest have again missed out on rainfall and consequently remain in severe drought. Green feed supplies in the south are on the rise with the early start received in these areas capitalising on the moist conditions and the current warm conditions. Forecasts look promising for further follow-up rainfall across the weekend period. Conditions in the pastoral regions also remain varied. The majority of herds have either begun and or finished calving. The ANZAC day holiday in the middle of the week caused the sale in the Great Southern to be cancelled. Midland’s numbers were lower this week, while the southwestern sale remained extremely small.

Heavy weight steers and heifers were sold in extremely limited supply. Grain fed yearling volumes were considerably lower than the previous week’s yarding with quality remaining fair to good. Grass finished trade weight yearlings were all but non-existent, while limited cows supplies accounted for a small percentage of the total. The largest class sold this week was again lightweight yearling store cattle. Trade competition remained very conservative with the physical market continuing to be hampered by solid supplies being direct to works, which has subsequently dampened demand and competition in saleyards. Live export demand in saleyards has also been limited with agents reporting that the first ship of the season is soon to be loaded out of Broome in the north of the State.

No live exporter activity in saleyards
Any vealers sold were once again predominantly lightweights less than 150kg lwt. Local retailer demand remained solid with rates buoyant and no change in the market. Grain fed yearling rates were spread out of a wide range. Steer sales rose after the falls of the previous week with the market rebounding to previously seen levels. Grain fed heifer rates remained unchanged. Grass finished trade weight yearlings continued to receive an equal demand and competition from the trade and feeder sectors. Quality in lightweight yearling classes was very mixed and spread over a wide range. Feeder demand was equal but continued to be very selective for both weight and quality. Grazier demand was limited despite the recent rainfall and pasture growth.

The very small numbers of cows available sold to equal trade competition with no change realised in rates as trade competition remained unchanged. Heavy weight bull values were dearer this week due to an increase in local trade competition. With the live exporters presently sourcing their cattle out of either the north of Australia or Queensland, interest for lightweight bulls in WA saleyards was non-existent with all being purchased by export feeders and graziers.

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