Restockers support cattle prices
Supply is holding the cattle market together as NSW and Queensland farmers start to recover from drought.
CATTLE prices continue to be supported by low winter supplies and a boost from restocking activity.
Price trends stuck within a few cents either side of firm recently, with the best trade and grain finished animals still commanding over 400c/kg liveweight.
The cow market also held up to the pressure of the firming dollar against the US currency, and a downward shift in value of grinding beef into the key American market.
The following results for cattle sold at the major prime markets across the Eastern States of Victoria, NSW and South Australia show the resilience of beef, particularly compared to the current sheepmeat trade.
On Monday night the indicator for slaughter cows was at 267c/kg lwt, to be tracking within 5c of a week ago with only a 10c variance for this stock category in the past month, according to MLA data.
Yearling steers closed at 392c/kg lwt, 5c higher than a week ago and an 8c price movement in the past month.
Grown steers averaged 359c/kg, 9c dearer than a week ago, although there was more fluctuation over these export animals with a movement of 26c in the past month.
Helping hold the market together is supply as farmers, particularly in NSW and Queensland, start to recover from extended drought.
The latest available slaughter figures, covering July 3-10, show a tightening of numbers going to processors.
The overall cattle kill slipped to 122,068 head in the Eastern States for 4 per cent decline on the previous seven day tally, and a massive 20 per cent lower than the same time last year.
All states have shown a drop in numbers, led by Queensland where the female cull is starting to slow as herd rebuilding begins.
There were 26,000 females processed in the first week of July in Queensland — a 35 per cent drop on levels recorded a year ago in the midst of drought.
Latest price results from Monday had the best vealers firm to dearer at Pakenham, with some outstanding B-muscle milk calves selling up to 459c/kg lwt, the National Livestock Reporting Service said.
Higher prices of 463c/kg were set for a highly muscled yearling steer, which would rate as one of the top prices recorded so far this winter at auction.
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