IT wasn’t drought breaking, but rainfall across parts of the eastern states has given the cattle market a boost.
All Eastern States Daily Indicators opened the week stronger on Monday, with the Eastern Young Cattle Indicator (EYCI) lifting to 503 cents a kilogram.
This was a 22.5c/kg jump week-on-week and the first time it has broken the 500c/kg mark for a month.
Short supply of finished cattle is evident in the medium and heavy steer indicators, both of which are now trending higher than year-ago levels, at 282c/kg and 290.70c/kg respectively.
Victorian markets were firm to dearer in the past week, with the National Livestock Reporting Service quoting Ballarat on Monday as firm to 20c/kg for most categories, with only plain 2 score cows dropping further.
In Gippsland, cows made up a large proportion of the yarding, but similarly anything ready to go onto feeders was well sought after.
Most NSW yards reported an increase in trade and feeder buyers, and prices lifted for weaners and feeders at Yass, with medium-weight feeders steers making 265c/kg to 280c/kg, and backgrounders to 294c/kg.
Cattle numbers dropped in NSW from the south to the north as the prospect of more rain falling this week could have producers holding on that little bit longer.
Restocker confidence was lifted with the moisture and they were out in force at Tamworth, helping lift prices for lightweight cattle at that market, however most categories sold to a dearer trend.
Prices also improved at Queensland yards, again helped along by isolated rainfall, but as they say it doesn’t rain grass and well finished cattle were in short supply, with cattle numbers overall falling significantly across the centres.
Medium weight yearling steers consistently sold at 275-285c/kg in Queensland over the past week, while the over-the-hook indicator for the same category sat at 515c/kg carcase weight.
The dry conditions across much of South Australia, including the pastoral region, continues to bite hard on saleyard prices, with yearling steers to the trade making 178c/kg to 222c/kg in Dublin this week, a stark contrast to the east coast.
Restockers that still have feed are picking up cattle from as low as 120c/kg, however similar to the other states cow prices did lift across most weight categories this week, making up some of the losses from the week prior.
AuctionsPlus September average for yearling and grown steers 283c/kg nationally, hitting a top average of 313c/kg in Tasmania, and ranging down to 284c/kg September average in Queensland.