Strong cattle prices led to more livestock being drawn out last week, with Meat and Livestock Australia’s weekly slaughter data showing a 2017 high.
Things settled a bit this week, but rising export meat prices are at least supporting cattle prices. The increased supply in yards was also reflected at processor works.
Cattle slaughter on the East Coast for was up 11 per cent and just 6 per cent below the same week last year.
In Queensland, slaughter was up 22 per cent on the week and 10 per cent on last year. Dragging the chain was Victoria and SA, down 29, and 27 per cent on last year respectively.
It remains a bit confounding that the supply dearth is concentrated in the southern states, given herd liquidation, and subsequent rebuild, should be concentrated in the north.