Beef continues upward trend on demand for vealers, yearlings
Young cattle lead the charge, recording strong results selling to processors, restockers and feedlots.
THE beef market is on track for another buoyant week, with price trends for young cattle higher again earlier this week.
Price gains of 5-20c/kg were recorded for feature lines of vealers and yearlings in southern saleyards as the industry returned to a full working week after the disruption of the Melbourne Cup holiday.
At Pakenham the best vealers stepped up to trade between 420c/kg to a new high of 469c/kg liveweight, although such big money was reserved for about 60 high-yielding calves from the larger overall yarding of 1100 cattle.
Stronger price results were also recorded at Mortlake on the same day, with the National Livestock Reporting Service indicating gains of 10c to 20c/kg across the young cattle categories selling to processors, restockers and feedlots.
At saleyards further north, heifers were a hot spot in markets as buyers switched to young females due to the strong demand from feedlots and restockers for steers.
At Wagga Wagga in the Riverina, domestic meat buyers pushed the average price for well shaped heavy heifers (400kg plus) above 400c/kg, paying to a top of 436c/kg.
This was 11c dearer than a week ago, according to NLRS data, with the dearer rate amounting to $50 over a 420kg heifer.
The results helped push the Eastern Young Cattle Indicator higher again to a close of 828.75c/kg carcass weight equivalent earlier this week.
In an unusual result for this time of year as the industry heads towards summer, the EYCI has now gained 38c in the past month.
Prices for export cattle have been more stable, with the pressure of the Australian dollar and cheaper beef from other nations keeping a lid on further price rises.
The average saleyard price for slaughter cows nudged 300c/kg, although data shows only a 9c variation for this category in the past month.
Likewise, heavy steers were trending at an average of 385c/kg after sales earlier this week, having only changed 8c in the past month.
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