AFTER a steep decline in recent weeks, saleyard prices are again on the rise as numbers hit lowest point since February and rain continues to fall in Southern Australia.

The benchmark Eastern Young Cattle Indicator has jumped 19c to 936c/kg carcase weight and the feeder steer indicator is up 22c on last week to 506c/kg liveweight – which according to Meat & Livestock Australia is a 9 percent increase on last year.

The Bureau of Meteorology is forecasting rain across southern parts of Western Australia, South Australia, southern parts of the Northern Territory, Victoria, New South Wales and southern parts of Queensland.

If the system materialises, it will follow some handy falls across south-eastern parts of South Australia and Victoria last week.

Meat & Livestock Australia’s Eastern Young Cattle Indicator Friday August 21. Click to enlarge.

MLA market information manager Stuart Bull said saleyard reports suggested demand from the southern states was pushing up young cattle prices.

“The Roma market report noted increased buying activity from additional southern buyers, signalling ongoing demand for cattle in southern regions,” he said in his weekly sheep and cattle market wrap.

The Roma report said additional buyers had made the trip north from both New South Wales and Victoria.

Qld drive yarding to six month low

Mr Bull said Cattle yardings continued to fall for the fourth consecutive week, totalling 51,468 head (the lowest since February this year).

Charters Towers and Dalby recorded declines of 1173 and 1032 respectively. Roma was down to 5663 head after a yarding of 7930 last week and 11,384 the week before.

Southern yards have headed in a different direction with Mortlake and Wagga Wagga lifting 1923 and 1260 respectively.

The southern saleyards are contributing the highest prices to indicators, with Wagga contributing the most cattle and highest prices to the feeder steer indicator. A sample of 1530 feeder steers at Wagga, mostly above 400kg, averaged 530c/kg.

Wagga also contributed the second highest numbers to the Eastern Young Cattle Indicator, with 2544 head averaging 1013c/kg carcase weight.

• For more interesting takes on the market check out Elders analyst Richard Koch’s regional roundup and outgoing NAPCo chief executive officer Allan Cooney’s view on the way markets work.