Declining quality and supply, and a weaker response from the processing industry, led to more refinements in cattle prices over the past seven days.
Once again, buyers chasing quality and supply are finding it hard enough, and some are chasing specific markets to attain their kill.
This has seen some markets lift in price, and others, when left alone by processors, are cheaper. Processors will certainly be watching the Australian Dollar, which is currently climbing, and does nothing to improve their anxiety.
Processors continue to offer solid prices over the hooks for their proffered, top lines of cattle. However, if rumors are correct, this too will soon change. The benchmark price set at saleyards is drifting lower, and moving further away from direct to works prices.
Staying away from the singular top prices for vealers, and a clearer pattern occurs. In all bar Shepparton, where prices were quoted higher, MLA’s market reports all indicate price falls.
The general run of C muscle vealers ranged from 330-365 cents per kilogram liveweight. While restockers are still purchasing the lions share of young cattle, they too have reduced their demand.
Saleyard prices came back 10-35c/kg this week, with most steers making from 320-360c/kg. MLA’s Eastern States Feeder Steer Report also showed declining prices for steers direct to feedlots. The fall here was mostly 3-10c/kg lwt.
Not all trends are gloomy with the best end of bullocks gaining in value at the top end. Leongatha agents sold bullocks, 600-750kgs, from 300-315c, and most other markets, although small in number, were between 288&305c/kg lwt.
In a slightly larger penning of manufacturing bullocks at Pakenham, Monday, prices were firm to dearer with Friesians selling to 275c, and crossbreds, 285-300c/kg lwt.
With much of the supply of trade steers and heifers coming from feedlots, demand at saleyards has been light. Obviously, some of this is dependent of dressing percentages, which are all over the place.
Yearling steers to the trade sold mostly from 290 to 320c and similar quality heifers, 275-310c/kg lwt.
As the season deteriorates, the supply of cows remains high for this time of year. However, dairy areas and the north east are the larger supply areas.
Generally, prices were firm to cheaper, but carcass weight prices were higher on average, which is an indicator of quality.
Small numbers of top quality cows reached to 275c with most beef cows from 235-262c/kg lwt.
For the first time in well over a year, the EYCI fell below 600c, closing at 593c, back 9.25c/kg.
