Key points:
- The quality of cattle, especially across eastern states, has been impacted by hot and dry weather.
- Strong quality across heavy and extra heavy lambs has continued.
- Slaughter for both species eased over the week.
Cattle market
Cattle prices were unable to maintain last week's levels, resulting in a mixed cattle market. Yardings eased by 1,705 to 51,439 head as the quality of stock declined due to the hot and dry conditions.
With fewer heavy cattle coming to market, the Heavy Steer Indicator has subsequently lifted by 3¢ to 337¢/kg liveweight (lwt). Prices lifted in most states, with an impressive lift of 26¢ recorded in Queensland. Market reports have indicated that processor demand for heavyweight-grown cattle was weaker, with both well-finished steers and heifers selling cheaper.
The Dairy Cow Indicator eased by 19¢ to 217¢/kg lwt and yardings doubled over the past week to 811 head. A substantial number of cows are being offloaded, putting downward pressure on the market. Cows are now being sold 10¢ cheaper, driven by the limited processor competition.
Sheep market
Sheep prices took a downturn this week, except for the Mutton Indicator. Yardings lifted by 68,948 to 317,502 head for combined lamb and sheep.
Strong quality across heavy and extra heavy lambs has continued, with the Heavy Lamb Indicator easing 7¢ to 792¢/kg carcase weight (cwt). Meanwhile, the Light Lamb Indicator eased by 45¢ to 671¢/kg cwt, with a greater price spread of lambs weighing under 18kg.
Slaughter
Week ending 31 January
Cattle slaughter eased by 19,136 to 121,772 head, however, continues to track 4% above the same time last year. Slaughter eased in all states, with drops in NSW (4,504 head), Queensland (9,691 head) and Victoria (3,097 head).
Combined sheep and lamb slaughter eased by 116,396 to 597,541 head. Lamb slaughter eased to 75,538 head and sheep slaughter eased to 40,858 head.
In NSW, sheep slaughter eased by 16,358 head, Victoria slaughter eased by 14,006 head and WA slaughter eased by 10,751 head.
Lamb slaughter also followed a similar trend, with NSW slaughter easing by 16,005 to 108,813 head and Victoria slaughter easing by 42,311to 212,761 head.
Attribute content to: Emily Tan, MLA Market Information Analyst
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