Higher Yardings Slows Prices

AUSTRALIA - After a succession of rain disrupted weeks cut numbers offered through MLA’s NLRS reported eastern states saleyards, a dry week, combined with higher prices saw a 62 per cent surge in cattle and a 27 per cent lift in lamb offerings compared with last week. Prices largely held steady across the lighter and younger categories, while heavier export prices slipped back.
calendar icon 22 March 2010
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Meat & Livestock Australia

Despite the largest cattle yarding so far this year, demand for young cattle continued to be driven by producers keen to capitalise on the vast improvement in seasonal conditions, with the EYCI reaching its highest level since October 2008, at 354.75¢/kg cwt, according to analysts at Meat and Livestock Australia.

National average heavy steer and cow prices slipping back 6¢ and 7¢/kg cwt, respectively. With the A$ remaining above 90US¢, export cattle prices could come under further pressure throughout autumn if supplies continue to improve.

Lamb prices only edged back between 2-5¢/kg cwt across the heavier categories, despite the jump in yardings, as the quality of lambs offered continued to reflect the better season.

However, in contrast to the east, conditions in WA continue to deteriorate, forcing more lambs onto the market, with trade lamb prices falling 28¢.

With year to date eastern states average weekly lamb slaughter 15 per cent below year-ago levels, and vastly improved conditions across many regions, heavy lamb supplies are expected to increase throughout autumn.

This should put downward pressure on prices, which will come as welcome news to processors and exporters, MLA says.

TheCattleSite News Desk

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