Oz Markets Need a Break

AUSTRALIA - Cattle markets remain depressed and fragile, with little rain, a rising AU$ and no signs of recovery in demand in Japan, Korea, the US or Russia.
calendar icon 2 October 2009
clock icon 1 minute read
Meat & Livestock Australia

With no signs of recovery, processor demand is still weak, especially on export grade steers.

In addition, lot feeder interest is low, as is often the case for export grades at this time of year, and restockers are cautious as Queensland and northern New South Wales dry off and the Bureau talks of another hot, dry El Niño event.

Cattle producers have responded to the weak demand by lowering turnoff, with yardings down 20 per cent on last year. However, this did not prevent Japan ox prices from shedding another 12¢ this week, to be 18 per cent below a year ago. Similarly, export cows fell 3¢, to be 19 per cent down on last year. Young cattle categories held firm.

TheCattleSite News Desk

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