THE common theme across the Elders network this week was that we just don’t know where the market is at. There was a lot of spot pricing going on as live cattle exporters, processors and feedlots filled gaps but market depth was not sufficient to be able to confidently quote a market.

Processors are confident that they have plenty of cattle booked (via direct consignment) and they will arrive, but are on the phone to agents making sure there are no logistical issues.

Suffice to say, the market is still trying to sort itself out in the wake of Trumps tariff announcement last Thursday, a plunging $A, a dramatic change in northern seasonal conditions and a plethora of livestock movement issues.

Feeding stock is an investment now, it’s not a cost

By the end of next week, the picture should be clearer, but the signs look positive, even in the south where conditions continue to be tough.

With beef, lamb and mutton prices rising, producers should take heed of the advice of one of our agents: “Feeding stock is an investment now, it’s not a cost.”

Source: MLA

The hardest thing to do is identify the market rate.

Our northern agents report in the live ex space there’s a lot of spot pricing going on to top up shipments, but you couldn’t really quote a market because it lacks depth. The biggest influence going forward is the fall in the $A that was under US60c this morning which augurs well for anyone involved in live export

There was rain again in the northern half of the NT, so pretty much all areas are filled in now. There was a couple of patches there that didn’t get swamped, but they’ve had their annual rainfall by now well and truly.

Sometimes it’s all about perspective, some think ‘average’ equals a poor year, but in the north ‘average’ is just fine. The rain means northern producers will be able to make commercial rather than feed-based decisions going forward.

There was a bit of live export activity heading towards Townsville, but this has disappeared now due to the wet.

The live exporters are saying supplies are fine, but there is some anxiety given current transportation issues affecting the whole of northern Australia.

CQ cattle movement still touch and go

In Central Queensland our agent reckons there are a lot of cattle that have been booked but processors and feedlots have yet to take delivery. Feedlots are waiting to take delivery of cattle that were bought a few weeks ago before they decide how to position themselves moving forward. There were a few feeder quotes out to fill a few pens late last week but not enough to frame a market.

On the processing side, and talking about CQ, they still think they’ve got plenty of cattle coming. They reckon there are plenty of bookings, but in saying that on Friday you could have got cows into a couple of the processors for Monday’s kills, probably filling spots that have arisen due to transport issues.

So, there’s still a few issues with getting cattle on the move, but the processors are comfortable they will arrive.

Dalby sale helps frame Downs feeder steer market

Working off last week’s Dalby sale (the only major sale in QLD last week, Warwick did operate but smaller number) best of your cows $3.35/kg lw but back to $3.10/kg top to average around $3/kg this week with a lift in numbers and no southern operators active. Lighter cows $2.60-2.80c/kg while heavy steers made $3.60c/kg.

Feeder steers made the $3.96/kg in the yard (today the heavies topped at $4/kg to average $3.81c/kg about where the feeder grid is today) which provided a hint of what feeders and processors were thinking with both cows and feeders at the saleyard ahead of last quoted rates.

Feeder heifers picked up with the best $3.80c/kg to average $3.35c/kg at Dalby today.

As the week progressed it become apparent that cattle kill and feeder steer grids had moved higher than before the rain with flatback steers delivered downs opening at $3.80-3.85/kg no pill or as some of our agents put it, ‘for proper cattle’. It has been hard to get a Downs flatback feeder steer quote since the cyclone with first space being the issue and then transportation.

Processors that say they have cattle booked in front of them, are working the phones hard to ensure they arrive for the Monday kill.

QLD restockers drive southern store cattle market

Little heifers have gone ballistic in the last few days, after this rain in QLD with central and western QLD buyers trying to buy in Tamworth, Yea and Wodonga. Light weight black heifers which two weeks ago were $650-700 have moved to $700-$750 and now up to $850-900 as QLD restockers chased them south

QLD buyers are looking at paying low $/head for cattle in weight ranges 220-250kg. Now the season is guaranteed they are happy to take the punt knowing they can put weight on these cattle and turn a buck.

Southern producers keen to take the cow money given seasonal concerns

It’s still very dry in Victoria and terrible in South Australia. At Mortlake on Monday, they got 2200 cows in the cow run a big offering because of dry conditions.

Southern cow prices will probably be a bit cheaper this week just because, its dry and people are chasing the money, so they’re all going to the yards, so probably be a cheaper trend for a few days.

On feeders down south we are seeing $4-4.10/kg for a British breed steer and maybe a bit extra for an EU steer but not much extra.

Cattle of weight are getting scarce, and the money is good. If stock have got some condition they are very keenly sought after. The processors reckon they have enough for now but if you had a load of cows or grassfed steers, you could still probably get them in next week.

Water is our main issue and sulphur deficiency.

Our livestock production man in southern NSW says water and sulphur deficiencies are his main issue. You may be noticing cattle with dull coats or sheep with poor wool quality, or even wool falling out.

Because of the run of wet years (prior to the last few), and because no one uses single super anymore, we are starting to see some serious sulphur deficiencies. Particularly in the red country, but its easily fixed just speak to your local livestock production man.

Had to make mention that Wagga sale last week was off the charts for mutton. A well-respected agent was quoted as saying, “It‘s the strongest mutton market I’ve ever seen in my 40 years in the game.”

There was some restocker interest in ewes but they didn’t get a look in with all the mutton going to processors.

Sheepmeat looks very, very strong and we are telling clients feeding stock to hang in there as ‘it is an investment now. It’s not a cost’. For every dollar you’re spending feeding them, you’re probably getting at least $1.50, if not more, back.

Even though circumstances are rather dire, and rain is needed. The good thing is there is still feed available (hay and corn), particularly now it has rained in Queensland, all the feed is staying down south.

WA cattle market starting to look up

The WA livestock market has changed dramatically in the past few weeks with the rain across the south. A bit of rain around last week, across the Great Southern after the rainfall that the region received about 3 weeks ago is making things a bit easier. A bit of green feed has jumped out of the ground and should get another few weeks of growth given it’s still warm. Seeding is underway in different parts of the state up north and out east; the trend is sowing cereals first.

Although the abattoirs are very much the same with cows $4.80/kg cw and big bulls $4.50/kg cw. That will start change shortly as they will start to get some cows down from up north in the next month or two. But if you have big lines of cows, you can probably get them in around that $5-5.10/kg for good quality Angus cows.

WA saw a huge cattle price lift in the saleyard last week. We started off with the AuctionsPlus the Monday, which went well, but most lines have lifted now. Feeder steers and heifers lifted 20-50c/kg lw, so better steers weighing 250-380kg are making anywhere from $3.50-4/kg and a lighter steer is still making only 10c/kg less which is a big change from a few weeks ago when the lighter stock were copping a big discount.

Heifers jumped up as well with top prices up to about $3.20/kg to average around probably about that $3.10/kg.

A lot of the lotfeeders have come back into that market to push it along, they need cattle in their feedlots now but seem to be buying contract to contract with prices tight from the supermarket, sitting around the mid $6’s/kg.

The feedlots are finding it tough, but then also need the cattle, but supply and quality has been slowly dropping.

Tassie last, but not least, certainly in cattle quality

Our agent reports that once again, not a lot of rain with 1-4mm about it, so Tassie, like the rest of southern Australia is still looking for a genuine autumn break.

The sheep, lamb and cattle job over here is just ticking along nicely, particularly on mutton as everyone alluded to up $20-30/head while lamb was $3-9/head higher.

Pricing on fat cattle and cows is still steady as it has been for several weeks around that $6.90/kg dw for better yearlings and $5.80/kg cw for better cows.

The store market considering seasonal conditions is holding up relatively well. The better, heavier type Angus feeder steers are around $3.80/kg lw.