Newspaper article Daily News (Warwick, Australia)

Weekly Cattle Market Wrap: Crumbling Prices Kill Supply

Newspaper article Daily News (Warwick, Australia)

Weekly Cattle Market Wrap: Crumbling Prices Kill Supply

Article excerpt

FOLLOWING larger than normal cattle yardings, numbers across Meat and Livestock Australia's (MLA) National Livestock Reporting Service (NLRS) reported saleyards declined nine per cent last week, with most states contributing to the fall.

The cooler temperatures and deteriorating season continues to force producers to offload cattle across various regions and markets, while the lack of demand and weaker competition restricted throughput at centres where holding onto unfinished stock remains an option.

Queensland yardings lifted three per cent this week with the return of all markets following the recent public holiday.

The increased supply was largely due to a 40 per cent rise in cattle offered at Warwick.

However, there were fewer cattle sourced from pastoral districts last week, with offerings at Dalby and Longreach back 25 per cent and 60 per cent, respectively.

New South Wales throughput declined five per cent last week and Victoria by nine per cent, with the lower offerings heavily influenced by a 29 per cent fall at Gunnedah and a 27 per cent decline at Pakenham in Victoria

The various store sales being held across northern New South Wales in past weeks may have attributed to the reduced numbers at prime markets, with a notable decline in the number of plain conditioned vealers entering the prime sales in north west New South Wales and the Hunter Valley.

Larger runs of young cattle being available at weaner sales, along with the season deteriorating and winter approaching, has resulted in weaker restocker activity at prime markets, contributing to prices falling for young cattle.

The rise in the Australian dollar has also reduced feeder and slaughter activity, with the cheaper trend encouraging producers to hold on where possible, reducing supplies in physical markets. …

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