Feedlots, restockers hold the market, but price varies on quality
Prices varied in saleyards with the best bred cattle generally firm to dearer, while plainer stock resulted in an easing of rates.
CATTLE prices are holding, but price variations based around quality are starting to show up at saleyard auctions.
There were minor price changes to the major cattle categories in the past week as supply and demand from feedlots and restockers continued to hold the market together.
The National Livestock Reporting Service reported the following national saleyard averages earlier this week:
Heavy steers, 380c/kg lwt for a 5c slip in the past seven days; feeder steers, 444c/kg, easing 2.5c; yearling steers 442c/kg to be unchanged on a week ago; and cows 310c/kg, improving by 10c.
Looking deeper into the price data coming out of saleyards, it showed the best bred and presented cattle were generally firm to dearer, with the easing rates caused by the appearance of plainer stock.
At the Pakenham sale earlier this week, the best vealer calves suiting top end domestic orders were firm to a few cents stronger in places, selling from 410c/kg to a top of 460c/kg for the pick of the B-muscled heifers.
At the same sale some of the yearling cattle either lacking finish or sheep were working out a few cents easier at 380c/kg to 420c/kg depending on breed and weight. The bigger lines of heavy feeder steers at Wagga Wagga in the Riverina improved their value this week.
The NLRS quoted a tight range of 390c/kg to 442c/kg for steers weighing 400kg plus, for an overall average of 435c/kg liveweight — 12c better than a week ago.
Similar grade and weight heifers to feedlots were firm at an average of 410c/kg.
Grown steers are a category fluctuating around quality.
There was a range of 335c/kg to 390c/kg quoted for bullocks sold at Mortlake in the Western District weighing more than 600kg.
The cow market was the standout performer of the past week for both consistency and price, driven by a significant cut in cows being sold to slaughter, with the latest production figures showing a 46 per cent cut to female numbers out of Queensland and NSW as herds are rebuilt.
The latest figures for early November released by Meat and Livestock Australia were: 53,870 cattle processed in Queensland, to be down 33 per cent on a year ago.
But the female portion totalled just 20,519 to be back 46 per cent; 25,509 cattle processed in NSW, also falling 33 per cent on 12 months ago, with the female kill back to just 12,584 or 46 per cent less.
MORE
BEEF CONTINUES UPWARD TREND ON DEMAND FOR VEALERS, YEARLINGS
Eastern market booming
See how the restocker movement on the east coast is having an affect on cattle in the west.
Only way is up for cattle rate
Cattle prices continue to rise week after week. But producers are beginning to wonder, how high can prices go? Here’s what the industry experts have to say.