The cattle market was mixed this week with lifts to feeder and restocker steers, and easing in all other indicators. Yardings lifted week-to-week by 20,304 head to 74,172. A 38% lift to last week, and 98% year-on-year.

Australian red meat exports have started off strong in January, with total red meat exports 41% higher than January 2023 at 133,146 shipped weight tonnes (swt). Relatively high weekly slaughter across December and January has translated into higher export volumes, and lower production in the United States has generated demand for red meat in North America, resulting in export volumes more than doubling.

The cattle market has lifted significantly this week for all indicators. Yardings have eased by 1,092 to 50,971 head stabilising over the last week.

Final Report

Due to the national public holiday for Australia Day, this wrap was written a day in advance. Regular reporting will continue from next week. Thursday and Friday cattle and sheep sales, including Emerald, Dubbo, Wagga, Warwick and Yass, are not included in this commentary.

The cattle market lifted overall this week. Yardings rose by 31,585 to 57,966 head, a 23% increase compared to the same time last year. This growth was underpinned by NSW and Queensland with combined yardings of 35,644 head.

The cattle market generally lifted this week with strong processor demand for weaner cattle. Yardings increased by 7,027 to 24,547 head which is expected for the beginning of the year.

The weekly National Livestock Reporting Service (NLRS) slaughter report remained an important resource in 2023, producing weekly reports on slaughter figures gathered voluntarily from processors across the country.

The cattle market eased this week. With Christmas at our doorstep, some key saleyards have closed for the year and will start up in the new year. Market reports states key buyers and processors were not operating thus entering a cheaper market compared to the previous week. Cattle yardings dropped by 75,112 to 7,452 head, however such a significant decline is expected given the time of year.

As Australian red meat supply picks up, MLA is supporting exporters and levy payers to capitalise on the positive trading conditions in North America.