Good rainfall throughout the end of September and the beginning of October in Victoria prompted encouraging feed growth and a reduction in supply, Meat and Livestock Australia reports.
MLA says cattle selling was consequently restricted in the beginning of the month, given the uncertainty in the market and poor export demand.
This contributed to a 37pc fall in grown steer supply, and a 45pc drop in the number of cows yarded.
Despite supply falling, and Victoria experiencing one of the best starts to spring in years, prices have eased year-on-year, MLA says.
It puts this down to the high Aussie dollar, which is creating uncertainty in export markets, and the general lack of demand, both internationally and domestically.
These have far outweighed the tighter supply and good feed growth.
As a result, the Japan ox indicator has fallen 7pc year-on-year, to settle at 159¢/kg (live).
The US cow indicator has followed suit, with a 9pc drop in value, to close at 127¢/kg.
