Market fundamentals
National restocker steer prices eased in February, reducing by 10 per cent (pc) over the month, resulting in the indicator being down 21 pc year on year. Similar downtrends were also recorded in New South Wales, Tasmania, Queensland and South Australia, who recorded dips of between 5 and 11 pc over February. The outlier was in the west, where an increase of 10 pc was recorded over the month.
A downturn in restocker steer prices in February.
Read on for local conditions and commentary from Elders Livestock Managers. For more livestock market insights, head across to Livestock Now.
From the field
“Things remain dry in the north and west of the state, and these continued dry conditions and no significant rainfall forecast in the near future will see numbers of livestock for sale continue to flow.
“Cattle numbers continue to come forward, although not in huge numbers, with cattle with weight bringing a premium when compared to light-weight cattle due to lack of paddock feed to put weight in to stock.
“Opportunities appear abundant with light-weight heifers in particular in the current market.” - Damien Webb, State Livestock Manager, northern South Australia.
“We've come from what has been quite an attractive space for the early part of 2024, only to be, you know, dated with a few numbers, which has probably caused the market to slide in the wrong direction.
“Cattle producers are feeling the brunt of the dry times and just a little bit of lack of support from our grass feeders because of no grass in the paddock.
“Our next level up, being our feeder cattle, have been pretty well supported up until the beginning of the month where everyone just sort of got to a point of capacity being full.
“I think a good rain will change the light cattle market; a little bit of time, and a break in the season will probably change what we're seeing just with a little bit of a slide on the feeder price.
“And I think as we go forward the processing cattle like our heavy steers, heifers and cows will just slowly slide into the right direction with a price rise, as we get through some numbers and once we get past those short weeks at Easter.” - Laryn Gogel, State Livestock Manager, southern South Australia.
“We have basically gone into the last month of a dry across the state, which is reflected in the cattle prices. We are seeing significant downward pressure on cattle prices.
“More so on the restocker end, prices have dipped probably in the vicinity of 40-50 cents on steers, and then probably similar on heifers as well.
“On the processing front, prices have gone back probably 10 to 20 cents from a month ago, all due to numbers flooding into the market, because of the dry season.” - Gavin Coombe, State Livestock Manager, Tasmania.
Market Indicators
Table contains restocker steer prices.
Note: States without sufficient data for the current month or without data for a specific stock category will not appear in the table.
Sources: Price data reproduced courtesy of Meat & Livestock Australia Limited.
The information contained in this article is given for the purpose of providing general information only, and while Elders has exercised reasonable care, skill and diligence in its preparation, many factors (including environmental and seasonal) can impact its accuracy and currency. Accordingly, the information should not be relied upon under any circumstances and Elders assumes no liability for any loss consequently suffered. If you would like to speak to someone for tailored advice relating to any of the matters referred to in this article, please contact Elders.