22 September 2010

2 minute read

Oceania

Wet in the North

Queensland suffered the largest drop and Roma Store sale was a major contributor as numbers fell by more than 4,000 head. NSW yardings fell 7 per cent and WA is back five per cent. Victoria increased 16 per cent and SA yardings dropped 24 per cent.  

Quality continues to improve across most markets as producers turn off finished cattle and hang onto unfinished lines if they have the option. There are some plainer unfinished lines being offered and these are subjected to strong restocker competition, which has picked up in Northern NSW and Southern Queensland especially after rain on the weekend.   

All the usual trade, processor and feeder buyers have been present and in some cases have been faced with additional competition as buyers travel further to secure numbers given the shortage in the North. In a bid to secure numbers some processors have been competing with restockers and feeders on the unfinished lines driving the prices for these categories.

The shortage in supply the physical markets and the fact that some consigned cattle are stuck in the paddock and will be for some time meant that competition was generally strong at most markets, although some trends varied.   

The lack of numbers also prevented much movement for over the hooks rates with processors reluctant to move rates any higher given the level of the A$ and are unable to lower rates as they need to secure a kill.   

After Tuesday’s markets the Eastern Young Cattle Indicator (EYCI) reached a new high point for the year at 373¢ to be 6.25¢ higher than last week. The trade steer indicator gained 5¢ to 201¢ and feeder steers settled at 199¢/kg lwt. Japan ox was 2¢ dearer at 185¢ and US cow remained firm at 145¢/kg.  

TheCattleSite News Desk