Livestock prices spikes in fallout from Queensland floods

Livestock prices have increased in the wake of flooding in parts of Queensland and NSW as the massive fallout for producers emerges.

Livestock prices have lifted in the wake of flooding in parts of Queensland and NSW as the massive fallout for flood-affected producers starts to emerge.

The 131 disaster impact surveys returned to the Queensland Department of Primary Industries to date put stock losses at close to 154,000.

This included 76,938 cattle, 68,800 sheep and 8250 other livestock, including goats.

A spokesman for the department said flooding continued throughout Central and Western Queensland, with eight major rivers and creeks subject to flood warnings.

“Flood waters in catchments are expected to move through slowly over the next few weeks and will likely lead to extended community isolation for many towns across the region,” the spokesman said.

The stock losses and logistics around moving stock in areas that have received rain but were not flooded have already started to impact the market.

National cattle indicators rose by 14–41c/kg carcass weight last week after some saleyards cancelled sales and supply was affected by rainfall.

Meat and Livestock Australia senior market analyst Erin Lukey said cattle supply was “dramatically reduced’ and given stable demand, prices jumped.

She said national cattle yardings fell 22,000 or 31 per cent, with numbers down 64 per cent in Queensland and 40 per cent in NSW.

There had also been an impact on cattle slaughter, which was down 1 per cent nationally, but back 2 per cent in both NSW and Queensland.

“Impacts from the Queensland floods are expected to show in the next slaughter report,” Ms Lukey said.

“Substantial throughput was expected after consecutive disrupted weeks from long weekends and plant and port closures from ex-tropical Cyclone Alfred.”

Last week at Wodonga cattle sale a limited number of stock was bought by Queensland producers, with figures showing 140 went to Longreach and about 50 to Taroom.

Meanwhile wet weather in NSW last week also took its toll on sheep yardings which were back last week.

Ms Lukey said the 18 per cent decrease in national lamb supply was due to NSW offerings falling by 48,399.

Sheep yardings were also back by 10 per cent.