Eastern states cattle throughput declined 2% this week at markets reported by MLA’s National Livestock Reporting Service.
An increasing number of plain cattle continue to enter markets, with the dry spring weather across much of the country taking its toll on quality.
Despite the slightly reduced supply, the Eastern Young Cattle Indicator (EYCI) at the close of Thursday’s market was 6¢ lower week-on-week, at 347¢/kg cwt - its lowest point since winter 2010.
The lower recent price for young cattle has reportedly seen some producers elect to retain stock if feed levels permit, hopeful some late spring rain boost demand heading into November.
While rain is becoming increasingly needed across a large swathe of eastern Australia, the recent rainfall forecast for November to January would be seen as positive news, especially given the decreased prospect of El Niño conditions forming.
On a state basis, the quality of cattle offered through Queensland markets remained plain, while there were some well-bred lines of cattle reported at Roma and Warwick this week.
Throughput was back 14% week-on-week, with Longreach operating on a fortnightly sale schedule until the end of the year.
Offerings in NSW went against the trend, lifting 8% week-on-week; with overall quality generally back in comparison to last week.
Gunnedah, Casino and Scone had small numbers of quality supplementary fed lines offered; selling to a dearer trend, but these lines had little impact on average price trends.
Consignments in Victoria also lifted 8%, albeit off last week’s low base, with mixed quality cattle reported across the majority of saleyards.
Shepparton had some good quality heavy steers on offer, which sold slightly dearer on last week, while the increased numbers at Ballarat included some well finished yearlings and heavy cows.
Numbers at markets in SA declined by 7%, as young cattle dominated the yarding. Processor, feeder, and restocker competition was subdued, with prices generally cheaper across all markets.
Source: Argentine Beef Packers S.A.
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