Weekly cattle and sheep market wrap
22 March 2024
Cattle
The cattle market was mixed, with an overall improvement in prices across the week. Yardings eased by 24%, a 27,024 decline to 51,696 head.
The feeder steer indicator lifted by 5¢ to 310¢/kg liveweight (lwt). Queensland prices increased by 10¢ and yardings at Dalby eased by 1,173 to 4,108 head. This price increase has been fuelled by a very strong market at Dalby. According to market reports, medium and heavy yearling steers going to feed experienced a positive price lift.
The heavy steer indicator lifted by 12¢ to 279¢/kg lwt. Prices were generally positive, reflecting an 800-head decline in yardings over the past week. Prices in NSW lifted by 10¢, particularly due to Dubbo and Wagga Wagga sales. There is a steady demand for processor-ready cattle, often fetching favourable prices after being in short supply recently.
Sheep
There has been a positive uptick in sheep market prices. Yardings lifted by 1,316 to 246,250 head, stabilising over the past three weeks:
- Sheep yardings lifted by 12,737 to 80,730 head
- Lamb yardings eased by 11,421 to 165,520 head.
The heavy lamb indicator rose by 14¢ to 633¢/kg carcase weight (cwt). Prices across the state were mixed – NSW prices rose by 32¢, with the largest price contribution from Wagga Wagga. Market reports indicated less supply of heavyweight lambs pushed prices higher at saleyards.
The light lamb indicator eased by 11¢ to 521¢/kg cwt. Wagga Wagga saw the largest price increase of 111¢, supporting an uptick in NSW prices. Quality was mixed, with a large yarding of light lambs supplied to the market suppressing prices.
Beef producers’ intentions
The November Beef Producers Intention Survey (BPIS) focused on Australia's grassfed cattle producers and will deliver valuable industry insights. The inaugural survey results will be released on 25 March on MLA's Trends & Analysis page.
