Over-the-hook indicators come off the boil across the eastern states

This week (ending 3^rd March), all cattle over-the-hook indicators across the eastern states declined on what was recorded the week prior – with some Queensland indicators lowering as much as 20¢/kg cwt.

After remaining fairly steady for the majority of February, most New South Wales cattle over-the-hook indicators recorded their greatest drop so far this year – some down as much as 17¢/kg cwt on average week-on-week. The number of cattle processed in NSW last week (ending 24^th February) was up 4% on the previous week, at 30,294 head.

To a lesser extent than NSW, Victorian over-the-hook indicators averaged marginally lower (4¢/kg cwt) from the week prior. Cattle slaughter in Victoria last week remained 1% below the previous week, at 20,200 head.

Queensland over-the-hook indicators declined week-on-week and were down notably from where they opened 2017 – with most categories now averaging close to 20¢/kg cwt below January levels. After increasing in the first week of February, greater cattle availability has contributed to a gradual decline in Queensland over-the-hook indicators throughout the month. In fact, some categories this week (3^rd March) were almost 40¢/kg cwt lower than what was recorded at the beginning of the month.

This week in Queensland, compared to last week:

• The over-the-hook trade steer indicator averaged 510¢ – back 17¢/kg cwt
• The over-the-hook heavy steer indicator averaged 519¢ – back 17¢/kg cwt
• The over-the-hook medium cow indicator averaged 439¢ – back 18¢/kg cwt
• The over-the-hook heavy MSA trade steer indicator averaged 539¢ – back 20¢/kg cwt

Queensland cattle slaughter eased marginally last week (1%) from the week prior, to 66,477 head,  with a 2% lift in the male cattle kill (to 42,047 head) not enough to offset the 5% drop in female slaughter (24,430 head). Contrary to the other eastern states, however, Queensland cattle slaughter last week recorded an increase (5%) from the same time last year.