Cattle supply increased across all centres reported by MLA’s NLRS. The majority of the rise was due to the upcoming Labour Day public holiday which is going to impact on markets on Monday and Tuesday. However the recent improving prices and with quality starting to fall away in some areas were also factors in the extra supply. However, while numbers increased, the lack of cattle in NSW and in particular Queensland due to rains has kept demand very strong. Prices were dearer with only the plainest lines selling to cheaper levels. More heavy rain in the northern states possibly led to further price rises for bullocks and cows, but the lack of boxed beef coming down into Victoria has driven up prices for other cattle as well. Prices across most classes of cattle were between 2¢ and 10¢/kg dearer.
Not having the amount of boxed beef on hand has led to a rise in demand for vealers, which peaked at 221¢/kg. However, increased prices for yearling steers and heifers across all states assisted in a rise of 5.75¢ to the EYCI, which closed at 344.50¢/kg cwt. Strong demand for trade and export cattle was complimented by feedlot competition, and producers seeking supply as well. There were some notable purchases by restockers with prices of 180¢ to 215¢/kg recorded.
The mountain cattle weaner sales are on in East Gippsland next week, and after that there will be few opportunities for those wanting stock to feed or grow out.
Improving prices
The increased demand for vealers resulted in a top price of 221¢/kg received for medium and heavy weight vealers. Across most markets a range of 185¢ 220¢/kg was achieved for B muscle vealers, however strong demand for lightweight vealers resulted in them receiving larger rises. Prices for C muscle vealers were anywhere between 165¢ and 210¢/kg.
As demand increases for grown steers, bullocks, and cows, so does the need for other cattle. All abattoirs are working fewer hours, which is increasing demand. Yearling steers made from 155¢ to 189¢, and most heifers ranged from 145¢ to 178¢/kg.
Grown steer and bullock fatteners, particularly those in South Gippsland have been waiting for prices to lift, and a much larger penning at Leongatha included a lot of heavy and extra heavy bullocks to 850kg lwt. Generally across the state most made from 158¢ to 185¢ with isolated sales of grown steers to 195¢/kg. Good quality beef and dairy cows made between 132¢ and 154¢, as the lean cows made between 102¢ and 142¢/kg. Carcass weight prices were around 264¢, however, later sales in the week were averaging closer to 278¢/kg cwt.
Source: MLA.com
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