Latest cattle market update

The latest insights and information on the Australian cattle market as of November 2023.

Market fundamentals

National restocker steer prices rallied slightly in October, up by 2.7 per cent (pc) overall to 219 c/kg lwt. At state level, prices decreased by 19 pc in Victoria and 11.3 pc in Queensland, but were up by 13 pc in New South Wales and 11.8 pc in South Australia. Nationally, prices have dropped 62.4 pc below this time last year, which is consistent across states.

Nov_2023_national_restocker_steer_indicator - 1 National restocker steer prices were steady in October.

Read on for local conditions and commentary from Elders Livestock Managers. For more livestock market insights, head across to Livestock Now.

From the field

South Australia

“The cattle markets continue to be oversupplied on a national basis and that affect has a knock on for all categories in every area. Quality well-finished accredited cattle from grass fed programs are still commanding a premium albeit not to levels previously experienced.

“Heavy export steers are hovering at best around the 500 cents per kg dressed mark, with cows topping around the 360 cents per kg dressed. Quality feeder cattle remain difficult to place with most feeders either full or waiting to budget purchase and feed price into the future before becoming active in the current market space. Although subdued or no quote what we have seen sold are between 220-235c per kg liveweight.

“Trade buyers are particularly selective in the current environment as are the grass feeders who are also awaiting direction of price into the future before launching into buying their 2024 cattle requirements. With weaner calf sales on the horizon it is obvious that most calves will come off mum with weight and growth so quality will be a feature of the weaner cattle to be offered in late 2023 and early 2024.” 

Laryn Gogel, Southern Livestock Manager, South Australia.


“To a certain extent, Tasmania had been reasonably well sheltered from the cattle prices which were being experienced by the mainland, but the last 2 to 3 weeks we have certainly come in line with both slaughter and restocker pricing for cattle as on the mainland.” 

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.