Australian cattle producers received 32.3 percent of the retail dollar on average during October, Meat & Livestock Australia reported today.
The figure was back from the 33.2pc share received during September, but up from the 31.6pc received this time a year ago.
According to ABARES, September quarter average retail beef prices, the latest figures available, were the highest on record, at $16.33/kg, up 8pc year-on-year.
However, as dry conditions persisted across most of the country and high levels of cattle supply continued to meet limited demand, cattle prices in October eased, MLA’s report said.
Trade steers averaged 195¢/kg lwt in October, back 3pc month-on-month but 10pc higher than year-ago levels, and as cattle prices eased, so too did the producer share of the retail dollar.
Meanwhile, in October, lamb producers, on average, received 50pc of the retail dollar, back from the 52pc received in September but up from the 41pc received this time a year ago.
The lamb producer share has been supported by saleyard lamb prices averaging above the five-year average for most of the year, with year-to-October trade lamb prices averaging 9pc higher. While retail lamb prices increased 6pc year-on-year to $13.20/kg during the September quarter.
It is important to note that the producer share of the retail dollar should be considered in conjunction with many other indicators – this is especially true in the case of beef, where around 70pc of production is directed into export markets.