Cattle head in the right direction

OVER the last few weeks we seem to have focussed on rising lamb and mutton markets with prices improving almost by the day. 

This week it is the time for the rising beef prices with the news that during this week most interstate cattle prices improved a further 20c to 30c/kg liveweight and this is on top of increases over the last couple of weeks. 

On Monday at Wagga and Mortlake cow prices rose 20c to 30c/kg and at Wagga the heavy cows averaged 281c over 704 cows and it was a similar story in the Victorian markets although the averages weren’t quite as high. 

On Monday night the national cow indicator sat at 257c which is a weekly increase of 28c/kg liveweight. Feeder steers are also attracting plenty of interest with ideal feeder steers in the 400-500 kg range averaging 352c while lighter are around 342c/kg. 

Heavy slaughter steers are selling from 300c to 330c/kg. Trade cattle aren’t seeing the same increases as their heavier mates and this has been a trend for a couple of months now where we seeing export cattle setting the increasing pattern. This is mirrored by the export figures just released for the end of the financial year where beef exports totalled 1.2 million tonnes which is 29% higher than the previous financial year and a similar volume to 2019-20. 

Exports to the US have almost doubled due to destocking. To Japan were up 14%, South Korea up 8% and China up 7%. 

Locally, on Tuesday at Powranna we saw a much better quality line-up of yearlings and grown steers and with an extra buyer in the market most prices improved around 30c/kg with the best year- ling steers making 240c to 278c and heifers 235c to 252c/kg. A good yarding of grown steers made 242c to 266c/kg live. 

The few heavy cows made 180c to 206c/kg. You could argue that there is a too big a gap between Tasmanian and interstate prices but at least we are heading in the right direction.

There is a store cattle sale at Powranna next Thursday which will provide buyers with an opportunity to buy before the spring prices arrive.

Lamb and mutton markets continued their upward trend starting on Monday at Bendigo, Corowa and Dubbo and then continued at Ballarat on Tues- day and Horsham and Hamilton on Wednesday. 

Mutton prices are also flying with many averages between 420c and 480c/kg carcass weight.

At Powranna on Tuesday we saw heavy lambs make $202 to $266, trade $128 to $190, light trade $86 to $108 and light $62 to $82/head. In most cases processors outbid restockers for the light and light trade lambs. Mutton prices were also dearer with heavy sheep making $98 to $112, medium $82 to $122 and light $26 to $96 (depending on fat cover and skin value). 

Sheep-meat exports were the highest on record with the Middle East and North Africa region having the biggest increase of 76% on the previous financial year. Good news all round.