Over the past week, producers across Australian eastern and southern states have seen some quality rainfall − supporting a 11¢–39¢ lift in cattle market prices. This recent rain has interrupted producer turnoff decisions, shifting processor supply and demand through to the end of the year.
The rainfall has caused a drop in cattle numbers across major saleyards. With the indication of strong demand forecast to the end of the year, producers have gained confidence to hold on to animals for weight in some saleyards, MLA Said.
Over September, regions across Queensland saw a lack of rainfall − pushing more stock into saleyards and directly through to processors. This was evident in the slaughter numbers reached two weeks ago, which were close to annual high numbers.
Looking closely at the finished saleyard indicators, the National Heavy Steer Indicator and the National Processor Cow Indicator have both continued to climb. Processor Cows are now fetching 399¢/kg liveweight (lwt) − the strongest price on record. Across NSW, these prices jumped A$/¢/lwt 20 to 405 kg. Similarly, the National Heavy Steer Indicator is now sitting at A$/¢/lwt 445 kg. This is the indicator’s highest price since 2022.
