Cattle prices remained firm across most categories this week, while buoyant sheep supply did little to dampen prices as slaughter reaches two-year highs. Cattle prices firm Across most cattle indicators, prices continued to operate with more stability, with minimal changes across most categories. High supply of processor cows in the saleyards did not overly affect prices, with the improved processor cow price falling 2.5¢ week-on-week to finish at 281¢/kg live weight (lwt).
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Since late January, the indicator has operated within a tight band of 280–284¢/kg lwt, signalling the market is now operating in a new state of equilibrium. This is despite higher supplies of slaughter weight cows in the system. For the restocker yearling heifer indicator, prices fell 16¢ week-on-week to finish at 353¢/kg lwt. Analysis of weight data suggests that heavier heifers close to joining weights have been less affected in price terms than the 200–280kg heifers, which require growing out prior to joining. The 330–400kg weight range lost 10¢ this week, although it’s currently operating at a premium to both the 280–330kg and 200–280kg weight ranges. This indicates there is a producer demand for ready-to-join or close-to-joining weight heifers, and producers are opting to manage their land and grass availability as autumn/winter and the dry season approaches. Lamb market Sustained demand for heavy lambs is ensuring prices for the improved indicator finished this week at 797¢, ...
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