Increased supplies were the primary factor behind a 5 percent fall in the Eastern Young Cattle Indicator last week to 371.75c/kg, the benchmark indicator’s lowest point for 2012.
The inclusion of several large autumn weaner sales in Victoria and NSW has seen more than 70,000 weaner steers and heifers sold over the past fortnight in eastern states.
Meat and Livestock Australia said the increased supplies, which saw 73pc more young cattle included in the EYCI last week after the Easter holidays, reduced competition.
Contributing to the expanded yardings was the increased turnoff of cattle from western Queensland and northern NSW with producers choosing to sell cattle after the floods and before winter.
The Roma store sale was the largest market contributing to the indicator with 12pc, while Dalby and Dubbo both accounted for 8pc and Gunnedah 7pc.
Nationally, average cattle prices declined by 1-5pc for the week.
Heavy steers contracted 22c to average 327¢/kg cwt, while medium cows eased 9c to 278¢/kg cwt.