6 October 2010

2 minute read

Oceania

Supply down slightly

The major reason for only a small drop in supply even with a public holiday on Monday in NSW and SA was the 123 per cent increase in Queensland. Roma accounted for most of the increase with 6,300 extra head yarded while Toowoomba Landmark also had a large increase with a large line of bullocks coming in from Birdsville.

Quality continues to improve across the Eastern States with plenty of cattle in good to finished condition with plenty of weight. There still remains a good supply of unfinished cattle suited to feeders and restockers and these lines carry on being subjected to strong demand from producers looking to put mouths on the ground. Restockers accounted for around half of all yearling steer purchases and around a third of the heifer portion. In some regions particularly Victoria it has been reported that some grown cattle have been a bit plainer in quality with some of the grown steers having more teeth. This has had an impact on price trends.

Young cattle continue to maintain strong demand from all buyers as feeders and processors look to maintain numbers with some cattle in Queensland still not able to be transported. Restockers are maintaining a solid floor in the market, keen to secure any cattle in plainer condition. As a result the eastern Young Cattle Indicator (EYCI) finished at 375¢/kg cwt after Tuesdays markets. The trade steer indicator finished 3¢ higher than last week at 200¢ while feeder steer had eased 2¢ to 197¢/kg lwt.

On the other hand grown cattle prices have been affected by the high level of the A$ and in some cases a bit of a slip in quality. Japan ox eased 1¢ to 186¢ and medium cow finished 2¢ lower at 144¢/kg lwt.

TheCattleSite News Desk