SALEYARDS cow prices appear to be defying gravity at present, in stark contrast with the export beef trimmings market which continues to deteriorate.

The recent strengthening in cow prices in the saleyards appear to have forced processors’ hands, with some 20-30c/kg rises in direct consignment grid offers on cows this week, with some competitive operators in southern Queensland up to 690-700c/kg this week on heavy cows, and heavy grass steers 770c/kg (780c available on some grids for no HGP).

At the same time, manufacturing beef prices in international markets have continued to deteriorate.

The latest MLA quote (21 August) on 90CL imported Australian cow meat into the US sits at A$10.17kg CIF. That’s down 66c/kg over the past month, and $1.80/kg from its 2026 high-point back in March. The next quote due, for the week ended 28 August, is only likely to be lower.

International trade conditions, with Australia’s China tariff triggering, and Brazil about to do the same any day, has pushed imported beef prices into the US lower – combined with clear signs of push-back now from US consumers on blisteringly high meat prices.

Against this background heavy cows at Wagga sale yesterday (540 on offer) averaged 421c/kg (the equivalent of 805c/kg dressed weight), topping at 435c. Similarly, Tamworth yesterday saw cows 15c/kg dearer across the board, with heavy cows averaging just short of 400c/kg.

Further south, good cows at Mortlake yesterday were estimated at 820-850c/kg, where they stood (before freight to plant), based on a typical dressing percentage of 51pc.

MLA’s processor cow indicator based on saleyards transactions today sits at 388c/kg liveweight, up 25c from its recent low-point of 363c back on 11 August.

Southern processors’ keeping wheel moving, before local cattle flow

The best explanation we’ve been able to get is that southern processors can see a better supply of local cattle coming forward from around mid-September, and are being motivated to support kill rosters and retain workforce by bidding over-the-odds on lines like cows from areas further north, for a few weeks, until that happens.

A long list of Victorian and southern NSW processors are still operating four-day weeks, but are looking to restore full weekly kills this month.

“They feel they are that close to seeing some local cattle start to flow, they can sustain this recent expensive purchasing for a short while,” one southern contact said. “It may be only two or three weeks, before all of a suddenly they see some big consignments of Channel bullocks or cattle running out of Central Australia. It could go from not enough slaughter cattle to too many very quickly, for some southern operators.”

Because Central Australia had receive so much unseasonal rain during winter, even 10-15mm was enough to delay cattle work for another week or two.

Losses on some northern cows heading south for slaughter at current rates, could easily be a couple of hundred dollars, he suggested.

“Our top cow grid is 810c/kg, but that’s for top cows where we can harvest some MSA cuts. But we really do not want them, at that rate,” was his response. “For a generic cow, you’d really want to be at early to mid sevens, to get close to breakeven on current export meat markets. Cows are probably 50-60c/kg too expensive at present – at least.”

Despite adjustments to some Queensland over the hooks grids this week, saleyards money still looks well on top, in the current trading environment.

Central Queensland plants are 20c/kg behind the direct consignment quotes listed above.

Recent rain has definitely been another factor in southern buying interest over the past week or two.

Cattle are now starting to flow out of Queensland’s far west and Channel Country regions, but some sources suggest the money being paid to secure numbers may be well above what the public grid offers suggest, reflecting numbers and evenness in weights. Buying slaughter cattle ‘by the trainload’ can be a strong incentive when numbers are tight.