The Stock Report Weather to shape season for cattle
CATTLE prices throughout the eastern states remain a talking point among producers and traders, with many concerned about how much further prices will fall.
During the past week export cattle prices fell a further 10c/kg at major saleyards and in particular at Pakenham and Wagga some major exporters stayed out of the market. At Pakemham on Monday reports said 450 grown steers averaged 12c/kg to 15c/kg cheaper with 114 C3 steers of 500kg to 600kg selling from 259c/kg to 275c/kg to average 267c/kg. while 130 heavy C4 bullocks made 261c/kg to 276c to average 266c/kg liveweight.
The cow market at Wagga on Monday also fell with heavy beef cows making 219c/kg to 252c/kg with averages between 230c/kg and 239c/kg.
The good news from a seller point of view is the young cattle market is in a holding pattern supported by restockers after good l rains through quite a bit of the eastern states. At Wagga a run of 480 heavy yearling steers sold to feedlots averaging 298c/kg live, still pretty reasonable prices.
Locally, both exporters are killing good numbers and I think the general consensus is there will be sufficient cattle at least until the new year.
The season will play a part i after a very hot week with more to come and reports that parts of the state have dried very quickly and will need to offload some cattle in the near future. Many of these will be stores and while the North-West Coast is in good shape these cattle will continue to sell well. Powranna store-cattle sales over the next two Thursdays will tell a story.
There appears to only be positive news for lambs and sheep with lamb prices continuing to motor along in most interstate markets.
Locally this week we had the first decent number of new lambs for the season and these all sold well. At Bendigo on Monday prices were up to $5 a head cheaper, mainly because quality dropped off, but on the same day at Hamilton prices were fully firm for a very good quality yarding.
This time of the year Hamilton has a two-day lamb sale and Monday and Wednesday this week they yarded 52,633 lambs and this will build over the next couple of weeks. Heavy lambs made $160 to $176 and extra heavy $175 to $209 averaging 605c/kg to 610c/kg carcass weight while heavy trade lambs made $156 to $163 and medium trade $123 to $154 to average 620c/kg. Light score-2 lambs made $90 to $117 and worked out around 655c/kg. For this time of the year these are record prices.
There are forward contracts at 600c/kg to 630c/kg for January delivery in Victoria and South Australia which look very attractive. The interesting thing is historically prices in January are better than November and December and in fact in eight out of the last 10 seasons that has been the case.