Australian cattle prices found some support following the sharp declines recorded since early August. Lower saleyard supplies allowed the national young cattle indicator to recover, although MLA said signals remained mixed across regions and categories.
The National Young Cattle Indicator rose A$/c/kg 10 over the week to A$/c/kg 486 liveweight, an increase of 2%. The Feeder Steer Indicator remained unchanged at A$/c/kg 493, while the Heavy Processor Cow Indicator gained A$/c/kg 2 to A$/c/kg 376.
Total cattle yardings fell by 15,587 head from the previous week to 63,163, a decline of 19.8%. At Wagga Wagga, yardings dropped by 1,870 head as several producers opted to retain cattle and add weight rather than sell at current prices. In contrast, Roma yardings increased by 2,000 head as drier conditions encouraged producers to market cattle.
Cattle slaughter for the week ending September 27 eased slightly to 142,765 head. MLA said prices showed “signs of stabilising”, but noted that fuel costs, variable grain prices and dry conditions continued to influence producer selling decisions and buyer activity.
