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 Beef cattle prices lift again 

Beef cattle prices lift again

04 Jun, 2009 02:42 PM
THE Eastern Young cattle Indicator (EYCI) has risen by 3.25¢/kg so far this week compared with last week's, to reach 324.25¢/kg cwt at the start of Wednesday's sales.

MLA says the numbers of cattle yarded has tightened this week, influenced by the widespread showers and rain.

At the same time, the scattered showers and the expectation of more to follow, has encouraged strong restocker activity.

So prices have risen across the board.

Supply across MLA’s NLRS reported saleyards eased 7pc from those of the previous week.

Both NSW and Queensland penned significantly fewer cattle, but Victoria went against the trend to yard 10pc more than in the previous week.

Quality of the yardings generally has improved.

Feedlots also have also been increasingly active this week, keen to secure supply before the shorter week next week.

Young cattle continue to dominate the market with fewer grown cattle yarded.

The EYCI has now risen to the highest level since mid January.

The trade steer indicator improved 1¢/kg – to 181¢/kg while feeder steers improved a further 5¢/kg – to 173¢/kg.

Japan ox rose 2¢/kg – to 166¢/kg and US cow finished 1¢/kg dearer, at 123¢/kg.

The harsh seasonal conditions in Victoria and southern NSW, however, coupled with the colder conditions continued to encourage producers there to offload.

The public holiday next week also influenced larger yardings as Victoria penned 10pc more head, heavily influenced by a 40pc rise in numbers at Pakenham.

Quality remains mixed but there has been an improvement in the number of finished cattle penned, the MLA says.

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ARTICLES
MULTIMEDIA
02 June, 2009
01 June, 2009
POLL
Q: Do you support the recommendation to maintain the national beef levy at $5 per head sold?

Yes
(39.2%)

No
(51.6%)

Undecided
(9.2%)

Total Votes: 697
Poll Date: 31 May, 2009

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