Supplies of cattle to market are expected to tighten in coming weeks following heavy rainfall and flooding across large tracts of northern and eastern Australia.
Hundreds of properties in northern NSW have been isolated as major flood peaks travel through the region following some of the heaviest November rain on record.
Rain totals last week exceeded 200mm at Moree and 150mm in Armidale, Glen Innes, Guyra and Inverell.
Flooding has resulted along the Namoi, Gwydir, Severn and Macintyre river systems, with peaks still ahead for Goondiwindi and Wee Waa.
Further is expected this week with a band of heavy showers and thunderstorms forecast for Queensland and NSW on Wednesday and Thursday, according to The Weather Channel.
“Up to about 50mm of rain will fall over the flooded catchments in the north, possibly enough to cause some renewed secondary flood peaks, but this week’s rain is unlikely to cause the current flood peaks to worsen,” Weather Channel senior meteorologist Tom Saunders reports.
“Following the band of storms drier weather will return for the remainder of the week but La Nina conditions through the Pacific and warmer than normal ocean temperatures in the Indian Ocean will combine to maintain above average rain through northern NSW through summer.”
Parts of Queensland, Victoria and Tasmania also have flood warnings in place after heavy rain through to Saturday.
Meat and Livestock Australia says that after several weeks of higher numbers in NLRS-reported saleyards, cattle supplies are expected to tighten into December as a result of the widespread falls.
“While the rain across key cattle regions arrived too late to have a large impact on offerings, with yardings back 9pc this week, next week should provide a much better gauge of likely supplies heading into December, especially with further heavy falls forecast for Queensland,” MLA reported last Friday.
“However, for cattle processors and beef exporters, the recent heavy rain could again herald a very tight finish to the year.
“The lower A$ should, however, be some welcome news, particularly if it can stay below, or close to parity in coming weeks.”