Northern restockers continue to drive demand

Young steers and heifers still sought after by restockers, especially in the north, but demand eases for heavier animals.

Spinning wheels: Reduced numbers at Pakenham this week lead to weaker results. Picture: Zoe Phillips

RESTOCKERS  and feedlot buying continues to fuel the cattle market and make price headlines for young steers and heifers.

Price results for heavy slaughter-ready animals, however, were less glossy and showed a market struggling to gain traction despite limited numbers.

A breakdown of national saleyard price averages for the past week by category show the story.

According to figures collected by the National Livestock Reporting Service:

YEARLING steers to restockers averaged 563.8c/kg, gaining almost 50c in the past seven days and now 271c/kg higher than the same time 12 months ago;

HEAVY steers (500kg-plus) averaged 377c/kg for a slight correction of 1c and now 70c better than last year;

COWS to slaughter, 281c/kg for a 1c gain to be 50c above year ago price levels.

When the figures are analysed further, it shows the high price rates for young cattle being driven out of northern areas due to the influence of restocking.

To highlight this is a breakdown of price data for yearling feeder steers by state.

In Queensland, the saleyard price average is listed at 460c/kg, compared with 420c/kg in Victoria where competition from restockers against feedlots is not as extreme.

Markets earlier this week were distorted by the Australia Day public holiday and the hot conditions.

Most major saleyards ­reported fewer numbers and fewer buyers, making it hard to interpret results.

The trend out of the smaller yarding of 1550 cattle at Wagga Wagga in the Riverina was softer on a plainer offering that did not offer a lot of cattle in genuine prime condition.

The main run of heavy ­feeder steers, 400kg plus, averaged 432c/kg to be similar to a week ago.

Calves to restockers were often a few cents behind the extremely buoyant results of the previous Monday, ­although there were still sales for lightweight steers as high as 500c/kg.

In Victoria, the trend out of Pakenham earlier this week was weaker on reduced ­numbers while at Mortlake on the same day there were some wild fluctuations — dips of up to 40c recorded by the NLRS — in a small offering of only 225 cattle.

The cow market is one to watch, as its strength show­cases the overall health of the export trade.

Cow prices did fluctuate earlier this week, and while there were still some solid sales at 300c/kg to 328c/kg for the best heavy beef females, the general run of cows including dairy types were cheaper.

The firming Australian dollar and competition from cheaper beef on the world stage continues to put pressure on Australian sales.

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