Weekly supplies were slashed in southern Australian saleyards to strongly influence the cattle indicators. Photo by Lily Namdar
Cattle's primary indicator, the Eastern Young Cattle Index, rebounded strongly this past week to reclaim almost 10 per cent of the previous fortnight's 13 per cent tumble.
The move has formed on the back of a return to market of northern restocker buying as pastures recover following the flooding rains in Qld a month ago.
A slashing of weekly supplies in southern Australian saleyards also had a strong influence on other cattle indicators, as medium steers (+41c/kg), heavy steers (+19c/kg) and cows (+ 19c/kg) all rose.
However with the direct to works pipeline still holding plenty of stock grid prices are yet to show significant change, especially cow rates which were further relaxed through over-offers.
