SUPPLY across MLA’s NLRS reported saleyards lifted 13 per cent as all but Queensland and South Australia yarded greater numbers.
At the close of Tuesday markets, the Eastern Young Cattle Indicator (EYCI) fell 10.5 cents a kilogram on the previous week to settle at 282.75 cents a kilogram (cwt).
The trade steer indicator lifted 1c/kg to 159c/kg while feeder steers fell 4c/kg to close at 153c/kg. Japan ox also dropped 4c/kg to end at 151c/kg and US cow finished 6c/kg cheaper at 110c/kg.
The ongoing heat and lack of rain was the major driving factor as several producers were forced to offload due to their lack of water, feed and inability to carry over the approaching 3 week break.
Despite Queensland’s yarding falling 6pc, the majority of centres continue to offload large numbers due to the deteriorating season.
However, the closure of a northern processor resulted in cattle entering the north falling.
The quality of cattle entering the markets this week also slipped in Queensland, with a growing proportion of plain unfinished cattle available.
Cattle going direct to slaughter or feed met a softer market as several contributors pulled rates back.
The rise in supply, lack of demand and the closure of several northern plants contributed to the trend.