Current Trends in Eastern States Saleyards

Saleyards across the eastern states are experiencing an unusual surge in yardings, contributing to increased pressure on an already strong market. This trend reflects the ongoing dynamics of cattle prices in various regions.

Market Price Fluctuations

In recent weeks, prices have shown a mixed performance. Light restocker-type cattle weighing between 200kg and 280kg have remained stable at Roma, alongside medium-weight feeder steers (330kg-400kg). In contrast, heavy feeder steers (400kg+) and processor cows have seen declines of 20 cents and 10 cents, respectively.

Interestingly, while restocker cattle at southern saleyards have been priced significantly lower than those at Roma, fat cows destined for processors have fetched higher prices in the south.

The Southern Demand Influence

This discrepancy in pricing may be attributed to heightened demand from southern processors. Reports indicate that buyers from some Victorian meatworks have been traveling to northern sales in search of better deals.

Saleyard reports from Wagga and Gunnedah have shown significant declines in cattle prices, with medium-weight and heavy steers dropping 20 to 30 cents as both yards hosted 6,989 and 4,400 head, respectively.

Yardings Above Average

As of now, the national cattle yarding, reported by MLA, stands at 63,246 head, just shy of the weekly average of 66,244 head. The Dubbo cattle sale this week is poised to exceed these averages for the fifth consecutive week, with previous yardings surpassing 10,000 head.

Comparing year-on-year, last year’s same week recorded an above-average yarding of 77,627 head, emphasizing a distinct difference in trends with this year’s more frequent high numbers.

Factors Driving Increased Yardings

Several factors contribute to the increasing yardings, as highlighted in Beef Central’s weekly analysis. Notably, slaughter cow prices have eclipsed those of 2022 amidst previously scarce numbers.

The heavy feeder steer market remains strong, with prices hovering around 500 cents/kg. Additionally, the Eastern Young Cattle Indicator has recently surpassed 900 cents/kg carcass weight for the first time this year.

Southern Victoria’s producers are actively restocking following beneficial rainfall, and processors continue to seek strong exports, driving market demand.

Conditions across large parts of Central Western and Southern New South Wales have been dry, which has influenced the higher yarding numbers observed in Dubbo. Western Queensland has also been impacted, with recent storms only providing minimal relief.

The Bureau of Meteorology forecasts below-average rainfall and warmer temperatures across various regions, prompting many producers to bring cattle to market while prices remain favorable.