Cattle supply slips as prices decrease
Cattle throughput at physical markets as reported by MLA's NLRS declined, with national supply 31% lower than last week. Every state recorded fewer numbers - however last week's turnoff was overstated in places due to the disruptions caused by Easter.
Rain across Southern Queensland restricted consignments at Roma, which meant Queensland supplies were back 40%, despite the inclusion of the Toowoomba markets. Cattle numbers were down by around 27% across NSW mainly as the cheaper price trend discouraged producers from selling. It was a simular case in Victoria as numbers eased by 32%, while SA numbers slipped by 19%.
 

Cooler temperatures impact on quality
The changing weather conditions were realised this week, with several regions experiencing winter conditions which is sure to further impact on the quality of young cattle. Cattle quality was mixed, however the prime trade drafts remained in good condition. Grown steers and cows are plentiful, particularly cows as producers turn off unproductive females.
 

Cattle prices cheaper
Price trends in the physical markets and direct to works rates have declined since Easter, with the increased supply and the higher A$ mainly responsible for the cheaper trend. Processors have reportedly booked a fair proportion of supply for the coming weeks, causing buyer competition to soften in the physical markets.
After Tuesday's markets the Eastern Young Cattle Indicator (EYCI) was 10.5?below last week on 389.5?kg cwt. The trade steer indicator was down 21?- to 201?and feeder steer was 8?lower on 204?kg lwt. Japan ox was 12?cheaper on 175?and medium cows slipped 9?- to settle on 134?kg lwt. (MLA)