Average livestock prices increased across almost all categories this week, consolidating the gains of the previous week, with offerings at MLA’s NLRS reported saleyards declining again.
The EYCI reached a high of 378.75¢/kg cwt during the past week, while trade lambs jumped 17¢, to average 425¢/kg cwt.
The increase in prices for the past two weeks has been largely supply related, with rain across several regions impacting offerings in the previous two weeks.
After a 21% decline in cattle yardings last week, offerings slipped another 3% this week, while for lambs, last week’s 14% decline was followed by a further 5% contraction this week.
While direct to works quotes were largely unchanged this week, saleyards moved higher, with prices for most categories hitting their highest level since the second week of April and moving above the corresponding week last year.
Heavy steers (500-600kg C4) jumped 11¢, to average 345¢/kg cwt, with Queensland’s average up 12¢ week-on-week, to 327¢/kg cwt.
Medium cows nationally averaged 280¢/kg cwt, while trade steers hit 378¢/kg cwt – up 7¢ and 6¢, respectively.
Lamb prices increased again this week, with heavy lambs kicking 18¢, to 397¢/kg cwt, while light lambs jumped 19¢, to 410¢/kg cwt.
The mutton indicator also jumped 18¢, to reach 302¢/kg cwt.
The slow rise in the A$ during the past two weeks would also be of concern to exporters and processors, reaching 102.8US¢ this week.
As has been the case for exports to most markets so far in 2012, while volumes continue to move, the price received has been less than impressive, a combination of the high A$ and subdued consumer demand.
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