Processor slowdowns and maintenance shutdowns are having an impact in northern markets.
But in the southern states, records have continued to fall for heavy and feeder cattle. After last week’s spike, cattle supply in saleyards moved back to a more normal level of around 50,000 head.
Demand appears to have weakened in Queensland, with heavy and feeder steer prices easing. Interestingly, cow prices rallied 14¢ to hit 513¢/kg cwt, just 4¢ off the record hit a month ago.
Heavy steers in NSW and Victoria rallied to new highs this week, hitting 638¢ and 651¢/kg cwt respectively. Queensland’s grainfed over the hooks price stuck at 575¢/kg cwt this week. This means a 350kg cwt grassfed steer in Victorian saleyards is worth $266 more than a grainfed steer delivered to works in Queensland.
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