Feeder demand holds up prices
HERE we are near the end of November and livestock prices are holding up remarkably well.
The very good season through most of eastern Australia is playing a big part with producers able to manage supply onto the market.
Cattle numbers through the works in Queensland have increased over the past month and last week there were nearly 70,000 cattle killed, which is a similar volume to the same week last year.
In the saleyards we are still seeing only moderate numbers and in most markets this week reports indicated there were more inferior quality young cattle included.
Good quality trade cattle in Victoria and southern NSW are making 320c/kg to 360c/kg, with 503 heavy yearlings at Wagga averaging 332c/kg, and in Tasmanian markets most are selling from 310c/kg to 345c/kg liveweight.
Feeders and restockers are still buying a fair percentage and at Powranna and Killafaddy on Tuesday they paid from 298c/kg to 332c/kg for steers and 310c/kg to 335c/kg for heifers.
One report I read from the NLRS indicated that if the plainer quality yearlings didn’t meet the specifications for feeders the price was 12c/kg to 15c/kg cheaper.
It will be interesting to see what happens in our saleyards when this extra competition softens and as the season progresses more numbers will come into the yards.
Interstate cow prices are also humming along pretty well at the moment. At Wagga there were 394 cows offered and most beef types made 228c/kg to 260c/kg liveweight.
It is also interesting to note that over-the-hooks beef prices in Victoria have stabilised and really haven’t changed over the past fortnight. Most yearlings are quoted between 535c/kg and 555c/kg and cow prices averaging 445c/kg to 455c/kg carcass weight.
The numbers are lambs coming into the western Victorian saleyards is starting to peak and on Tuesday at Ballarat there were 37,000 yarded and at Hamilton the following day 48,600, with this centre going to a two-day lamb sale next week.
The good news is the market has held up pretty well and at Ballarat most lambs were $2 to $4 dearer and although starting slightly cheaper at Hamilton ended up on a par with last week.
Most heavy lambs are quoted from 490c/kg to 510c/kg and trade weights 520c/kg to 530c/kg carcass weight.
Some light lambs destined for the Middle East are being quoted between 550c/kg and 600c/kg, or $79 to $105 per head.
These buyers are competing with restockers from all over who are paying $94 to $117 per head for well-bred lambs of fat scores of 2 and 3.
What a time for selling livestock!