Some rain in central NSW, the Riverina, and parts of Victoria, accompanied by continuing cheaper price trends, saw supply fall away in the influential markets of Dubbo, Forbes, and Wodonga. This in turn saw supply overall drop away this week.
However, this really only had a steadying effect on competition, and prices were mostly firm to cheaper across all markets.
Some export operators are reluctant to bid here in Victoria, and after a conversation with Andrew Stephens, Landmark, Alice Springs, it is understandable.
Andrew said after a very good summer, cattle have fattened well over the past few months, and Victorian processors are trucking thousands of steers, bullocks, and cows south for slaughter.
Prices averages have fallen, but it is more the smaller numbers good quality that have truly fallen from the perch.
Read an MLA market report from this week, and you will find the best vealers hardly cleared 340 cents per kilogram liveweight, and yearling steers 320c/kg lwt.
Processors are certainly getting their major supplies from other sources, being feedlot, or over the hooks. Saleyards remain the poor cousins when it comes to competition and price.
After some rain, particularly in southern NSW, restocker competition showed improvement. Prices were mostly 3-10c/kg higher with a general run of yearling steers selling from 300-345c/kg.
The rising value of the Australian dollar is not helping export cattle prices, and bullocks again sold to cheaper rates.
More prime bullocks are selling below 300c with price averages now bordering on 296c/kg lwt. In fact, at Barnawartha, Tuesday, no bullocks sold over 297c/kg lwt.
Only Leongtha, eight days ago, sold good quality prime bullocks to 312c/kg, and this was down 6c on their previous week’s sale.
I find it interesting that nearly every time there is conversation around the declining price of lean grinding beef to the US 90CL market, the price for leaner dairy cows rise.
The best indication of this was at Shepparton, Tuesday, were most of the lean 1 score cows were dearer. This could be due to interaction between buyers, or processors, as Camperdown and Naracoorte markets were both cheaper.
Better quality beef cows sold to varying trends, and while generally a little cheaper, the best quality still sold to 264c/kg lwt.
Most 3 and 4 score cows sold from 230-255c, while the better finished and heavier dairy cows sold between 175 and 220c/kg lwt.
Bull beef is the other prime, lean beef market to the US, and heavy bulls, between 265 and 308c/kg were mostly unchanged.
