13 August 2010

3 minute read

Oceania

New South Wales Weekly Cattle Summary

Rain falls, prices rise

Further rain across most areas of the state, and minor flooding in some parts, resulting in throughput at markets reported by MLA's NLRS falling 20 per cent. All markets except for Armidale and Dubbo realised reduced yardings. The overall yarding would have been much smaller had Dubbo not increased 51 per cent to account for almost a quarter of the states numbers. This was the result of recent yardings being smaller than anticipated and the good price gains recorded at markets earlier in the week.

The rain not only impacted supply, but quality too, which at many centres was improved on recent weeks. This was due to producers looking to hold onto their plainer lines to finish. The properly finished cattle that were offered had either been supplementary fed or were off crop. Most centres though still had cattle suiting feeder and restocker orders.

All the regular processor buyers were present and active at markets early in the week, however, a couple of regular order were missing from Singleton and Armidale. A full contingent of restockers and feeders made their presence felt across all centres which resulted in dearer prices for all bar a handful of categories.

The Eastern Young Cattle Indicator (EYCI) reached a new yearly high on Thursday, at 366.25¢ which was 5.75¢/kg cwt above the corresponding time last week. A major factor behind the recent push higher by the EYCI has been strong feeder demand, as restockers and processors place a solid floor in the market. The improved seasonal conditions, and outlook, continue to entice restockers to purchase, while processors compete for the suitably finished lines.

Strong demand

Only a small run of calves were offered with restockers securing the majority around 245¢ with sales to 265.2¢/kg. Light vealer steers returning to the paddock topped at 244.2¢ as most made from 216¢ to 235¢/kg. Medium weights averaged 215¢ to remain fully firm as some heavier weights to feeders gained 12¢ to 212¢/kg. The few medium and heavy vealer steers to slaughter made around 208¢/kg. A large run of light vealer heifers to the trade gained 8¢ to 214¢ as medium and heavy weights ranged from 200¢ to 206¢/kg. Light yearling steers to feeders and restockers sold around 210¢ as the medium weights to feed ranged from 205¢ to 209¢/kg. Heavy yearling steers to feeders gained 4¢ to 192¢/kg. The few medium weight C3s to the trade lifted 10¢ to 204¢/kg as the heifer portion increased 5¢ to 189.2¢/kg.

Medium weight grown steers to feeders remained unchanged at 181¢ as those to export slaughter improved 7¢ to 180¢/kg. Lean heavy steers averaged 184¢ as the C4s sold closer to 185¢/kg. Most of the bullocks made from 180¢ to 182¢/kg. Medium weight D3 cows gained 3¢ to 141¢ as heavy D4s increased slightly to 151¢/kg. Despite a high A$, good heavy high yielding cows made into the mid 160¢/kg range and even higher at times.

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