SOLID falls across the eastern halves of Queensland, NSW and Victoria over the past week have put the brakes on slaughter cattle supply for the timebeing, prompting some (but not all) processors to lift offers to flush out a few late-comers, with only four or five weeks remaining for the 2024 season.

Healthy registrations of anywhere from 25-100mm have been recorded over the past week in the green shaded areas on this BOM seven-day rainfall map current to this morning.

Click on image for a larger view

Slaughter cattle supply was already showing signs of tightening prior to that, but the rain has only restricted access further, with plenty of reports of weather-related consignment postponements and delays yesterday and today, especially in Queensland.

Some Qld grids kick 20c/kg

After a three or four week period of reasonably stable direct-consignment offers, some Queensland processor grids have kicked 20c/kg this week. Other processors have held back on making grid changes, at this stage, despite supply pressures.

Quotes obtained from competitive exporters in southern Queensland this morning ranged from 540-560c/kg for good export cows, and anywhere from 590-630c for four-tooth grass ox with an implant.

With normal seasonal closures now looming for some Central Queensland plants at the end of the first week in December, some operators in that region are now close to closing their books on supply for 2024.

Southern Australia has been much less impacted by the recent rain, with solid numbers reported in supply this week. A few more cattle are shifting out of southern selling centres like Forbes and Wagga for processing back in Queensland – partly because local southern plants are currently operating at, or close to capacity.

In eastern parts of South Australia, over-the-hooks grids seen this morning are showing 610c/kg on grass four tooth ox and 550c/kg on heavy cows, following some 20c/kg reductions back in late October. Processors in southern regions of NSW have left grids untouched this week, with cows currently at 510c/kg and four-tooth grass export steer no HGP on 590c.

Physical sales trends

Some physical sales held early this week have shown signs of rain impact, with yardings trending down as producers hold stock back.

Wagga sale yesterday yarded 5010, down 12pc on last week. In the export market, demand was robust for top-quality bullocks, resulting in a price increase of 17c, with most selling from 325-373c/kg. Heavy steers remained firm, averaging 345c/kg. The cow market showed signs of losing momentum, with only a few  buyers actively bidding at times. Prices for heavy cows fell by 15-25c, averaging 279c, while the middle run of leaner types fetched between 230c and 262c/kg.

Forbes yesterday saw a reduced yarding of 1046 head. Prime grown steers were down 5c, 250c to 347c, while prime grown heifers were firm to dearer, 250c to 338c/kg. Cows fell 20c, 2 and 3 scores sold from 180c to 268c, and heavy prime cows, 267c to 277c/kg.

Gunnedah sale this morning rose a little to 2430 head, with  more well finished heavy grown steers to suit export processors in the yarding. Heavy grown steers to export processors sold on a firm trend for the most part with age a factor in price change. Well finished grown heifers to the same destination saw a slightly dearer trend. There was little change in the market through the middle run of cows while the better heavyweights sold to a slightly cheaper trend.

Roma yarded 5292 head this morning, with the interim market report suggesting a price rise in most categories. Grown steers 600-750kg made to 350c/kg, heavy bulls to 318c/kg. Full report tomorrow.