Rain, tight supply offset global squeeze on prices
Trading was variable at Victorian saleyards this week, with trade cattle mostly dearer and heavier pens at times cheaper.
CATTLE prices continue to hang on, with tight supplies and ongoing rain protecting the market from global pressures.
It has been a disrupted week, with a public holiday in NSW on Monday shutting down markets across that state including the major saleyards of Wagga Wagga and Tamworth.
Price trends across Victoria were mixed, with the best vealers and trade cattle firm to dearer, but some cheaper results creeping into the heavier weight categories.
It matches the broader trend evident in the auction system in the past week, and shows up in the latest price indicator averages of:
● 369c/kg liveweight for heavy steers, down 7.5c in the past 7 days.
● 363c/kg lwtfor medium weight steers, down 5c.
● 413c/kg for yearling steers selling to processors, up 7c in the past week.
● 447c/kg for steers to restockers, up 14c/kg.
The figures highlight how the season and restocking support is continuing to underpin the market, offsetting difficult trading conditions overseas in terms of the firming Australian dollar and lower beef prices in competing nations.
The latest available slaughter figures show the cattle kill continues to track well below recent years.
For the last week of September some 108,342 cattle were processed, which marked a modest lift on the previous seven days but still a significant 27 per cent lower than a year ago. Northern areas are showing the biggest contraction in numbers, particularly Queensland, where herd rebuilding has pushed the female cattle kill in that state 39 per cent lower than last September.
In Victoria, 17,932 cattle were processed, up 9 per cent on the previous week, but also well down on historical levels.
On Monday this week there were some hot bidding spots for the best domestic cattle, with a standout B-muscle vealer heifer selling for 464c/kg liveweight at Pakenham.
However, sales above 430c/kg were limited to a few head, with most of the better-finished trade cattle in a range of 390c to 420c/kg lwt.
Grown steers were generally cheaper at Pakenham, easing by 3c-10c/kg on a week ago, the NLRS reported. Quality was a factor, with buyers not prepared to pay as much for plainer types that lacked finish.
The best bullocks still made from 370c to 388c/kg, but it was the plainer types in the 500-600kg range that were most affected by the cheaper trends, at 360c to 380c/kg.
In contrast, the cow market was dearer in Victoria on Monday.
The NLRS quoted an impressive average of 320c/kg for the pick of the heavy beef cows sold at Pakenham, with the top females to 331c/kg.
In dollar a head terms these cows averaged $2146.
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