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Eastern states cattle over-the-hook indicators ease
05 December 2019
Key points:
- All eastern states over-the-hook indicators ease, across all categories
- In particular, Queensland prices have come back over the last fortnight
- Saleyard prices following downwards trend.
This week saw eastern states over-the-hook (OTH) indicators trend lower for all Queensland and Victoria grids - and the majority of those in New South Wales. As processors approach the seasonal closure period over the new year, cattle grids for this week indicate processors are well supplied across the board.
New South Wales grids remained relatively stable, easing slightly from last week, albeit tracking well below Queensland and Victorian indicators since October and not reaching the price peaks seen in both their northern and southern neighbours.
Queensland has seen the biggest decline in prices, and have done for the last two weeks, although they maintain a substantial premium of around 20¢ for most categories.
When compared to last week, there is a consistent downwards trend for the week ending 6 December 2019.
For NSW:
- The over-the-hook trade steer indicator averaged 522¢ – down 1¢/kg cwt
- The over-the-hook heavy steer indicator averaged 528¢ – down 1¢/kg cwt
- The over-the-hook medium cow indicator averaged 430¢ – down 7¢/kg cwt
For Victoria:
- The over-the-hook trade steer indicator averaged 549¢ – down 7¢/kg cwt
- The over-the-hook heavy steer indicator averaged 553¢ – down 7¢/kg cwt
- The over-the-hook medium cow indicator averaged 441¢ – down 12¢/kg cwt
For Queensland:
- The over-the-hook trade steer indicator averaged 562¢ – down 10¢/kg cwt
- The over-the-hook heavy steer indicator averaged 575¢ – down 8¢/kg cwt
- The over-the-hook medium cow indicator averaged 451¢ – down 14¢/kg cwt
- The over-the-hook 100 day grainfed steer indicator averaged 603¢ – down 4¢/kg cwt
As cattle continue to be brought forward in strong numbers, oversupply of slaughter cattle has seen saleyard prices following OTH indicators with the Eastern Young Cattle Indicator falling to below 500¢/kg cwt on Tuesday. Heavy cattle continue to be supported by strong international demand, with the best offerings in Queensland saleyards averaging 510¢/kg cwt, despite a 45¢ drop from the previous week.
