Floods in Townsville and massive rains across large swathes of northern cattle country, though a long way from the slaughter markets we typically focus on, could impact supplies to processors in southern QLD.
The Eastern Young Cattle Indicator (EYCI) has only managed a marginal lift, gaining 6¢ to 478.5¢/g cwt, but prices in Queensland did make a bit of a move in the last week. Heavy steers gained 32¢ to 582¢/kg cwt, while cows were up 26¢ to 426¢/kg cwt.
The live export prices out of Townsville were quoted at 290¢/kg lwt this week, at a discount to Darwin at 325¢. These prices are around the same as what is available from lot feeders further south, so its unlikely many were heading that way. With the rain, there might be some now being drawn north, which should offer price support.