Gympie’s recent cattle sale showed that the price for quality young cattle was getting dear whilst the market stayed firm for the rest, however according to Radobank restocker cattle prices have dipped slightly below last year’s prices.
According to their June monthly report, most Australian cattle prices continued to track sideways.
A big run of restocker steers having being through saleyards over the last two months with numbers on average 36 per cent higher than at the same time last year and up 58 per cent on the five year average.
The report further notes that despite such numbers, prices continue to hold well.
“The fact that prices are holding with current cattle numbers in the system and an average to above-average rainfall forecast, leads us to believe cattle prices should hold at current levels with some upside for finished cattle and cows.” said Animal Protein Senior Analyst Angus Gidley-Baird.
Weekly cattle slaughter numbers are remarked to have recovered after the shorter processing week in early June to see numbers push back to over 140,000 head per week.
Year-to-date slaughter numbers remain 15 per cent higher than in the same period last year.
And for Queensland, the female percentage of total slaughter has pushed up to 50 per cent.
According to the report, this may suggest liquidation of the herd but because of the dryness in southern areas, it’s believed producers are not being forced to sell large numbers of cattle at the moment.
