Latest cattle market update

“With the rain over the past fortnight numbers in northern New South Wales markets have tightened and cattle markets have gained around 20c/kg lw across all types."

"Good heavy Angus steers are most sought after moving to $4.60c/kg lw with spillover support coming for feeder heifers.

"Northern restockers still active on lighter cattle with prices holding firm and buyers having to venture further south to obtain decent numbers.

"Slaughter cows and heavy steers have gained around 20c/kg lw in the yards just on lower numbers but works quotes have held steady.

"There will be a shortage of suitable feeders heifers in the south at least until spring with southern feedlots forced to head north into northern NSW and southern Queensland to obtain suitable supplies, which should keep these markets firm.

"The recent rain will help slow forced turnoff in the south with the recent rain, while not providing any immediate feed at least providing confidence that there is light at the end of the tunnel for those feeding with the prospect of a winter crop.” - Nik Hannaford, Elders NSW State Livestock Manager.

“With the commencement of the Queensland turnoff season, Queensland slaughter cattle markets have quickly come under pressure. Last week we spoke about a Vietnam boat order executed out of Townsville at $3.40/kg lw, the new boat order was at $2.90-2.95/kg lw and was quickly filled to give you an idea of how much this market has come back.”

“Cows across northern Queensland similarly affected, back 20c/kg lw to $2.40-2.45/kg lw northern yards and about 20c/kg lw more in the south. Bullocks have come back to around $3.10-3.20c/kg lw in the southern yards if you can get a booking. Most Queensland works are reporting that they are booked out till August. Southern buyers were active in Queensland saleyards last week but were very selective on what they took home concentrating on heavy cows.

“Like trends in fat cattle markets, flatback or northern feeder cattle have been falling while southern or Angus feeder cattle have been firming, reflecting the difference in availability. After being on par at the end of last year, Angus feeder premiums have moved out to $1/kg lw, with Angus feeder prices moving higher to $4.60/kg lw, in contrast to flatback feeders which have fallen to $3.60/kg lw Downs.”- Scott Mawn, State Manager Queensland/NT.

“With the bulk of the turnoff now over, numbers through the yards have started to ease, although cows are still making up around half the yarding. Quality is mixed but prices have been holding as rain eases numbers through southern New South Wales and parts of Victoria with forced turnoff from those areas easing. Any good quality cattle with weight and shape have been selling well to processors.”

“However, fodder is in extremely short supply and if strong rainfall doesn't occur and cattle feed doesn't grow quickly, we will commence a further sell down of the cow herd.  

“Northern restockers have been active on lighter cattle with many producers opting to sell at the better price levels of recent weeks rather than having to feed through winter. Retained heifers for breeding are increasingly being off loaded into feedlots.

“Some areas of South Australia have been picking up the odd fall of rain and with temperatures remaining unseasonably warm its hoped that there might be some late season pasture growth. The focus for many has been finishing planting with the hope that they can jag enough rain to germinate crops with forecasts suggesting a wet June. At least if they can get crops away there may be some light at the end of the tunnel.

“Expect cow numbers to slow down in the south as rain brings hope. Most of the cows being sold were the oldest age groups either being in calf for spring calving or with a little autumn calf. 

“I expect this to slow up providing we see another 10mm of rain next week. Feed is showing to be very slow and a lot of the 20-30mm last week has already dried up with our sub soil moisture being non-existent.” - Laryn Gogel, Elders Livestock Sales Manager, South Australia.

“Tasmania market has been steady on slaughter cattle, but the store market has been at the whim of the weather. “

“In early May much needed soaking rain of 15-25mm across the northern part of Tassie, in the main of the restocker or grower areas, gave the flagging cattle market a bit of support. Tassie works have plenty of numbers in front of them with the dry and with the turnoff of dairy cows before winter.

“The hope is that the rain will provide a bit of growth before it gets too cold. Although there was snow on the mountains early May but the weather cleared up quickly with nice balmy days for the rest of the week, 19-20 degrees and overnight temps 8-10 degrees which is allowing the ground temperatures to stay warm to allow a bit of growth before winter.

“A couple of frosts mid-May week took the wind out of the restocker market with rates back 20-30c/kg lw on steers and heifers.

“Last week, rain of +25mm added up across a few days over the island, with isolated falls up to 40mm, will help with soil temperatures still warm enough to allow for some late autumn growth. 

“Direct to works prices are steady at $7.20/kg cw for program yearlings and $6/kg cw on the better cows and $4.70-4.80/kg cw for the better dairy cows. Store cattle markets have slowed with limited numbers offered last week but we did see a 20-30c/kg lw firmer trend on AuctionsPlus last Friday with heifers selling to $3.50-3.60/kg lw and steers $3.70-3.80/kg lw with lighter steers pushing towards $4/kg lw.” - Gavin Coombe, State Livestock Manager Tasmania.

Source: MLA

“In early to mid-May northern opportunity buyers stepped into the market for light well-bred cattle and paying $3-3.10/kg lw for heifers and about $1/kg lw more for the steers across southern markets. These cattle are coming from the western district and south-east South Australia and represent future supplies of feeder cattle from these areas.”

“This activity continued into late May with buying out of the western district of Victoria for consignment to St George, Blackhall and Longreach in Queensland. Well-bred light restocker cattle have been the big movers in southern markets with heifers at Wagga yards gaining around 30-40c/kg lw to sell to $3.85c/kg lw early this week. The price correction on these better-quality light steers and heifers might force a rethink with some Queensland producers now considering agistment rather than punting on cattle.

“In southern slaughter markets, cows are $6.20/kg cw and up to $6.50/kg in places and $7.50/kg cw for grassfed steers & heifers and program cattle to $8.20kg cw. You can still get a kill organised in a week or 10 days and they're all killing full numbers.

“Once we get a rain in Victoria, processor supplies are going to tighten considerably. We have probably lost 30% of our stock numbers so numbers are going to tighten into winter as most saleable stock has been moved out of the area.”  - Peter Homann, National Livestock Manager.

“In early to mid-May despite Western Australia looking for rain to keep the season going, there was some better interest in feeders and store cattle with feedlots active on the heavier stock while grass fatteners were keen to own lighter cattle with producers from the Great Southern actively looking for cattle that they can put away for later in the year.”

“But the weather has since turned cold with cool nights and the first of the frosts and markets have backed off with grazier demand easing. Feeder and restocker cattle 280-380kgs fell around 10c/kg lw to $3.80/kg lw for steers and $3.30/kg lw for heifers.

“Hopefully, the good widespread rain forecast for Western Australia this week, and some warmer late autumn weather will allow pastures to get away and encourage graziers back to the market.

“Cows at the works have held $5.50-5.60/kg cw but are under pressure at the yards around $2.45/kg lw with the arrival of greater number of Kimberley cattle. The same can be said on heavy bulls which have pulled back to $2-2.20/kg lw.” - Michael Longford, Livestock Sales Manager, WA.