Beef mar­ket up­date

North East & Goulburn Murray Farmer - - NEWS -

RE­CENT rain across eastern Aus­tralia has sparked op­ti­mism in the cat­tle mar­ket, with price gains ob­served across al­most all ma­jor in­di­ca­tors.

Over-the-hook (OTH) in­di­ca­tors also ben­e­fited, par­tic­u­larly in Queens­land where most cat­e­gories rose be­tween 6¢/kg and 17¢/kg car­case weight (cwt).

Un­like store cat­tle prices, which are be­gin­ning to re­cover fol­low­ing a dif­fi­cult sea­son, OTH in­di­ca­tors strength­ened dur­ing the past year.

Strong prices at the fin­ished end of the mar­ket are a pos­i­tive sign for the in­dus­try, as they re­flect grow­ing in­ter­na­tional de­mand for high-qual­ity Aus­tralian beef.

Ris­ing OTH in­di­ca­tors also hint at the po­ten­tial up­side for the store mar­ket given im­proved sea­sonal con­di­tions.

Much like NSW, prices in Victoria have been rel­a­tively sta­ble (cur­rent end of Oc­to­ber).

Cow prices re­mained de­pressed when com­pared to NSW and QLD, with the poor sea­son con­tribut­ing to height­ened sup­ply in the south.

Trade steers and heifers were flat.

Heavy steers were also un­changed.

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