Indicators this week tracked sideways as yardings inched slightly bit larger this week to 68k head. Nationwide cattle slaughter continues to hover on the peak with final week’s rely eclipsing 156k head. Per MLA saleyard studies, processors stay energetic however not prepared to push costs larger for completed steers and cull cows in Roma. To Dalby and the competitors was strongest amongst feeders and restockers for yearlings. Wagga and Dubbo noticed lighter cattle dominate the market and powerful bids from feedlotters for the choose of the lighter weights.
The Jap Younger Cattle Indicator (EYCI) misplaced 1¢ to 853¢/kg cwt, and the Western Younger Cattle Indicator (WYCI) corrected 42¢ decrease to 743¢/kg cwt. Heavy steers and processor cows averaged a 1-4¢ loss this week.
Queensland and Northern NSW winter crops have benefitted from constant rainfall and comparatively gentle temperatures this winter, so with plentiful forage and a beneficial outlook, the probability of producers within the north taking inventory during appears extra doubtless. That is little doubt weighing on the minds of feeders and restockers seeking to supply extra inventory. The largest good points this week had been with feeder heifers, which improved 17¢ to 414¢/kg cwt. Given the current energy of pricing, consumers are searching for some worth, which has dragged up heifers in comparison with steers this week.
This week on Mecardo, Jamie-Lee Oldfield had a glance into reside export demand for Australian cattle (Learn extra right here). Indonesia stays the most important reside export market, however is presently monitoring at decade-low ranges as home demand continues to throw a spanner within the works for the reside export commerce. Southern feeders and processors wanting additional afield to fill provide, and loads of grass within the north may drag numbers out of the export commerce. This is able to doubtless see complete reside cattle exports fall wanting forecasted ranges.
