Feeder cattle losing momentum

The pressures of both coronavirus and seasonal conditions are having an impact on the cattle market.

Unpredictable behaviour: The cattle market has become erratic as it bounces between the season and the pressures of coronavirus.

THE  cattle market has become erratic as it bounces between the season and the pressure of coronavirus on export sales and red meat demand.

On a positive note, strong sales to restockers have ­continued in the past week with little steers still making up to 500c/kg liveweight at times and also some good price ­results recorded for store cows.

But bullocks to slaughter and feeder cattle have lost momentum, and The Weekly Times was told some major processors have either dropped prices this week or stopped quoting on some lines as they assess the situation going forward.

Price trends for export steers have been weaker at saleyards.

At Pakenham earlier this week, bullocks weighing more than 600kg were quoted as 16c/kg to 18c/kg cheaper, coming back to an average of 322c/kg liveweight.

The best sale was 350c/kg.

There was also a cheaper trend in the north for heavy steers, with agents at Tamworth reporting a drop of up to 30c/kg for bullocks on Monday.

It follows downward price movements for cattle being sold direct to processors, with Meat and Livestock Australia reporting softer rates in its over-the-hooks price guides for the various states.

In Queensland late last week abattoirs wound back OTH price offers for cattle by an average of 8–11c/kg carcass weight, MLA reported.

In carcass terms, most direct offers for young slaughter cattle are priced between 540c/kg and 580c/kg with the higher rates for animals carrying extra accreditation like Meat Standards Australia or European Union.

Feedlot competition has also weakened amid reports processors are concerned about where demand for high quality meat could be in 100 days time when animals purchased now start completing grain programs.

At Wagga Wagga on Monday agents reported the main run of 465 heavy yearling steers (400kg-plus) to feedlots averaged 30c/kg less for an overall result of 365c/kg.

The medium-weight feeder steers (weighing between 330kg and 400kg) suffered a similar price correction to come back to 358c/kg.

Competition for feeder heifers was also at weaker levels.

Meanwhile, there were still some solid sales for the pick of the vealers and supplementary fed yearlings to domestic processors at southern saleyards earlier this week.

At Pakenham the highest sale for vealers was 415c/kg for highly muscled European sired calves, with the general run of milk calves from 340c/kg to 390c/kg.

In the cow market, price results were varied on Monday depending on what processors were active at various locations.

Southern buyers underpinned the cow market at Wagga Wagga, paying from 280c/kg to a top of 302c/kg for the best heavy beef females.