Weaker supply met with weaker demand

Weaker supply met with weaker demand


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Yardings couldn’t provide support to cattle markets this week.

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It was another poor week for beef export values, and prices reacted accordingly.

With the end of the year, attention will turn to weaner sales in Victoria. The main thing that will swing the market is rain in Queensland.

Weaker cattle yardings couldn’t provide support to cattle markets this week. East Coast yardings fell 12 per cent back to a one-month low and below the same time last year, but the weaker supply was met with weaker demand. The EYCI lost 9¢ to 569¢/kg cwt, but it was really young cattle that weakened. 

Trade and heavy steers and cows were relatively steady nationally. The East Coast Medium Cow Indicator is 6 per cent below this time in 2016, while the EYCI and heavy steers are both 9 per cent lower. The Western Young Cattle Indicator was the star performer, gaining 39¢ to 591¢/kg cwt. 

*Mecardo Ag Concepts

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