Australian cattle prices rebounded sharply in May after trending lower since mid-March. The shift reflects a classic supply-and-demand pivot: rain improved producer sentiment, cattle yardings tightened, and buyers for restocking, feeding and processing all came back into the market at the same time.

Scattered rain across key cattle regions has helped prices rebound. Sheep and lamb yardings rose, but prices remained mixed.

Cattle producers face rising fodder and freight costs, with higher grain prices likely to flow through after the 2026 winter crop.

Global cattle prices converge

Over-the-hook (OTH) cattle indicators gained momentum this week, following tightened supply resulting from widespread rainfall across many parts of the eastern states.

Cattle prices are tracking well above year-ago levels, with young cattle maintaining a premium to their finished counterparts.

Cattle prices approach historical highs