Weekly cattle and sheep market wrap
16 August 2024
Key points:
- Prices declined by 7¢ at Wagga, where heavy lambs were in short supply.
- There was a significant number and mixture of beef and dairy cows, with less interest from restockers and feedlot operators.
- Weekly lamb slaughter is down 3% compared to the same week in 2023.
Cattle market
The cattle market has been generally positive with a 12% lift in the heavy steer price, while yardings eased by 24,406 to 50,244 head (a 30% reduction).
The Processor Cow Indicator rose by 20¢ to 290¢/kg liveweight (lwt) while the Dairy Cow Indicator eased by 4¢. According to the Processor Cow Indicator, prices in NSW lifted by 10¢, while prices eased by 8¢ in Victoria. At Shepparton, beef cows did not have as much weight compared to previous weeks with fewer finished cattle.
The Heavy Steer Indicator lifted by 38¢ to 359¢/kg lwt, with prices 40% above those from a year ago. Queensland prices rose by 31¢ due to substantial lifts in price from Roma and Charters Towers. Victorian prices eased by 10¢, where the quality of yarding was very mixed and a variety of weights limited the price.
Sheep market
The sheep market moved sideways with the exception of the Restocker Lamb Indicator. Yardings held firm, only slightly easing by 3,232 to 272,614 head, with decreases in both lamb and sheep yardings.
The Heavy Lamb Indicator eased by 13¢ to 811¢/kg carcase weight (cwt). There was a price decline of 7¢ at Wagga, where heavy lambs were in short supply and there was a larger number of grain-assisted trade lambs. Victorian prices eased by 77¢, with the largest decline of 104¢ occurring at Bendigo. The best heavy lambs at Bendigo sold for $212–$250 tracking from 900¢ to 950¢/kg.
The Restocker Lamb Indicator lifted by 119¢ to 635¢/kg cwt. Prices lifted by 125¢ in NSW. Wagga prices increased by 191¢ due to newer season lambs entering the market, while prices at Tamworth eased by 181¢ (driven by a mixed quality of lambs with a couple of well-finished lambs). Victorian prices eased by 45¢, with the largest decline at Hamilton.
Slaughter
Week ending 9 August
Cattle slaughter eased by 2,490 to 138,174 head; slaughter has been flat for the past five weeks with slight movements in slaughter across all states. Queensland slaughter eased by 2% to 71,761 head. Year-to-date, WA had the largest drop in slaughter by 33% to 2,663 head. Victorian slaughter eased by 185 head to 1,194 head (a 6% reduction compared to a year ago).
Sheep and lamb slaughter eased by 41, 459 to 575,331 head. SA processor shutdowns have reduced weekly lamb slaughter by 6% to 430,004 head. For the second time in 2024, slaughter is 3% below the same time last year, indicating supply might be tightening during the third quarter. NSW lamb slaughter declined by 5% to 116,358 head. Sheep slaughter eased by 14,525 to 145,327 head. NSW decreased by 21% to 54,698 head and SA slaughter eased by 70% to 54,698 head.
