13 July 2011

2 minute read

Oceania

Turnoff was consistently lower in the Eastern states, slowing in the wake of mixed demand signals and softer prices.

Meat and Livestock Australia said that Queensland numbers were back by 33 per cent - mainly due to numbers halving at Roma. Every NSW market apart from CLTX penned fewer numbers, causing supply to ease by 15 per cent.

Victorian throughput was back by 19 per cent and supply contracted by 40 per cent across South Australia markets.

MLA said that cattle quality in southern regions has continued to be very mixed due to the cooler temperatures, which is giving feeder and restocker orders a wider range to select from.

Grown cattle supply was dominated by cow yardings, as the few grown steers supplied were generally well conditioned. Trade cattle are scarce, but where available they are selling good enquiry.

Processor demand remains cautious due to the tougher meat markets conditions, and some are opting to only process contracted cattle while supply remains low and quality is inconsistent.

This has seen some processor operate at reduced capacity and undertake maintenance works.

After Tuesday's market the Eastern Young Cattle Indicator (EYCI) was 0.50¢ higher for the week on 375.5¢/kg cwt, which is 8 per cent above the same period last year. The trade steer indicator was 11¢ higher on 214¢ and feeder steers lifted by 5¢ - to 201¢/kg lwt. Heavy steers dropped 2¢ - to 174¢ and medium cows were firm on 134¢/kg lwt.

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