Newspaper article Daily News (Warwick, Australia)

Huge Jump in the Number of Grown Cattle for First Quarter

Newspaper article Daily News (Warwick, Australia)

Huge Jump in the Number of Grown Cattle for First Quarter

Article excerpt

Increased grown steers yarded

THE first quarter of 2009 witnessed a significant jump in the number of grown cattle offered at MLA's NLRS reported physical markets compared to the previous two years.

Total throughput during the quarter climbed 17 per cent on 2007 and 18 per cent on 2008 as the more plentiful supply of feed in NSW and Queensland enabled producers to grow out cattle.

The March quarter saw processors more active in the saleyards, with this group buying 15 per cent more cattle than in 2008 and 21 per cent more than in 2007. Feeder interest lifted 10 per cent on 2007 and 34 per cent on 2008, largely due to the low Australian dollar and reduced grain prices.

This drop in grain prices also encouraged a large number of grain assisted cattle onto physical markets. Heavy weight grown steers offered at MLA's NLRS saleyards in the first quarter of 2009 increased 26 per cent on 2008 and 18 per cent on 2007.

Coinciding with this increase were significant rises in the number of medium weights and bullocks offered. One of the factors contributing to the rise in grown cattle was the reduction of young cattle offered, highlighting that producers opted to take advantage of the lower grain prices and improved pastoral conditions on offer and grow young cattle out.

Eastern states indicators vary

THE daily cattle price indicators experienced mixed trends across the eastern states over the past week.

The Eastern Young Cattle Indicator lifted 8.75o on the previous week to settle on Thursday's close at 323o/kg cwt. In a similar fashion, the trade steer indicator improved 4o on last week, to 174o/kg lwt.

Both indicators have been influenced by the shorter week and the heavy rainfall, which sparked restocker activity.

The feeder steer indicator has held firm at 166o/kg lwt. Japan ox lost 1o to settle at 159o however US cow improved 1o to 123o/kg. …

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