The Weather Channel is forecasting heavy rain and storms for large areas of Eastern Australia this week.
Weather-related disruptions to supply triggered further rises in saleyard prices last week, and more rain and storms are forecast for later this week.
Rain across several regions has impacted saleyard offerings over the past two weeks, with the National Livestock Reporting Service reporting a 3 percent reduction in national throughput last week, following a 21pc decline the previous week.
All of the main saleyard price indicators rose higher on the reductions in supply and currently stand higher than last year’s levels.
The Eastern Young Cattle Indicator rose rising 5c last week to reach 378.75¢/kg cwt, which is its highest level for 11 weeks and 1.25c/kg above last year.
Heavy steers (500-600kg C4) jumped 11c to average 345¢/kg cwt, medium cows were 7c higher despite a noticeable reduction in quality according to the NLRS to average 280c/kg cwt, trade steers rose 6c to average 378c/kg cwt and the feeder steer indicator edged up by 2c to 202c/kg lwt.
Recent gains in the Australian dollar are expected to add renewed pressure to export prices.
“The slow rise in the A$ during the past two weeks would also be of concern to exporters and processors, reaching 102.8US¢ this week,” the NLRS said in its weekly update last Friday.
“As has been the case for exports to most markets so far in 2012, while volumes continue to move, the price received has been less than impressive, a combination of the high A$ and subdued consumer demand.”
Heavy rainfall for east
Meanwhile The Weather Channel is forecasting heavy rain and storms across large areas of Eastern Australia from tomorrow.
Falls of up to 50mm are expected across parts of South Australia, northern Victoria, northern and central NSW, and Queensland, with measurements of up to 100mm possible through all three states.
“A low-pressure trough is expected to form over the eastern interior through Monday as an area of high pressure in the Tasman Sea pumps an increasingly moist airstream into it before moving eastwards over the following few days aided by an upper level system,” said Weather Channel meteorologist Felim Hanniffy.
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