Steady demand stems further price slide
Prices hold with some minor gains, but there was little improvement for export steers and bullocks.
CATTLE prices have steadied at lower levels, with fewer being offered for sale by producers.
After price dips of 20-30c/kg in the past fortnight, numbers pulled back at most saleyards.
There was also a slowdown in cattle on AuctionsPlus with numbers back below 17,000.
While the market has not recovered recent price losses, it stopped losing value as supply and demand steadied.
That was evident in the latest saleyard indicator prices calculated by Meat and Livestock Australia:
COWS improved to 270c/kg liveweight earlier this week, up 2c on last week but still 40c shy of the highs of a month ago.
FEEDER steers went to 423c/kg, also improving by 2c and just 10c off the market peak of a month ago;
YEARLING steers were at 407c/kg, down 3c and 17c shy of a month ago.
THE Eastern Young Cattle Indicator firmed to the equivalent of 794c/kg carcass weight.
Export steers and bullocks remained dull, however, and there was little price improvement for this category of stock in the past week.
Part of the problem was limited northern processor support as abattoirs in Queensland and northern NSW moved into their quieter summer kill periods.
The price average for grown steers sold at saleyards dipped to 329c/kg lwt on earlier this week, marking another 6c slide on late last week.
The market gains this week were mainly over young cattle, which were pushed along by restockers and feedlots.
At Wagga Wagga, the NLRS reported a dearer trend of up to 12c/kg for the better yearling steers sold to the paddock.
Store steers in the 330-400kg weight bracket averaged 433c/kg or $1554 to restockers, while the next size down 280-330kg calves averaged 451c/kg or $1400, the NLRS reported.
The main run of heavy feeder steers at Wagga Wagga averaged 410c/kg lwt, but within this category was a big price spread of 365c/kg to 429c/kg.
Domestic processors paid to 454c/kg for the best vealers sold at Pakenham earlier this week, with quality calves quoted as firm to marginally dearer.
The cow market remains erratic.
Best heavy beef cows were a few cents dearer at Pakenham, although buyers remained reluctant to cross back into 300c/kg-plus price territory.
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