Dry Weather Pushes Cattle Supply Up
AUSTRALIA - National cattle throughput at Meat and Livestock Australia's National Livestock Recording Service reported physical markets was firm on last week's supply, despite some widespread showers in the eastern states.
13 April 2011
2 minute read
Cattle supply was around three per cent higher compared to the same week last year, with plenty of young cattle available. A fortnight of sustained dry weather over southern Queensland was largely the reason for supply lifting 8%, as market access becomes easier.
Some good falls of rain in central NSW limited yardings at CTLX and Gunnedah as overall throughput dropped nine per cent. Cattle numbers were marginally higher across Victoria, while supply remained firm in SA. WA numbers rose by 13 per cent as an influx of lightweight young cattle at Muchea boosted numbers.
Mixed conditioned young cattle
The condition of young cattle was again mixed, with producers using the opportunity created by the strong prices to sell secondary lines. The cooler weather is beginning to make its presence felt with some lines lower yielding, yet the better conditioned lines are still in solid numbers.
Prices cheaper
The market has showed a softening trend this week which was primarily due to supply remaining consistent over the past fortnight. Additionally, one eastern states processor has been absent from a few markets, reducing competition.
After Tuesday's market the Eastern Young Cattle Indicator (EYCI) had dropped 6.50¢ for the week, to 412.75¢/kg cwt as feeder and restocker buyers used more caution. The eastern states trade steer indicator was 7¢ cheaper on 216¢ while feeders eased 6¢, to 218¢/kg lwt. Japan ox remained firm on 201¢ and medium cow was 5¢ lower on 152¢/kg lwt.
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