WIDESPREAD rain with the promise of more to come has fired up the cattle market once again. MLA’s eastern young cattle market indicator jumped 13c to hit 640.75c/kg dressed at the end of selling on Tuesday.
The indicator is now back at early February levels as major falls resulting from ex-tropical cyclone Debbie lift prospects for widespread areas of both Queensland and NSW.
Elders livestock sales manager Cameron Wilson said there had been a remarkable turnaround in what had been shaping up as a tough winter.
“A month ago it didn’t look like rain at all, and a lot of people were heading into what was shaping up as a very ordinary winter,” Mr Wilson said. “Now that has all changed and some good weather systems including cyclone Debbie have filled in quite a few holes and changed the entire outlook. The market is responding to what looks like could be a very good winter season backed by excellent oats crops.”
The young cattle market had been generally easing since late January when the indicator hit 656.5 points. But even with this week’s gains, the market is still well below the 725.75c – or 69.25c – achieved in August last year.
At Roma on Tuesday young steers sold to 440c/kg live. Weaners under 220kg average 401c, while weaner steers weighing 220-280kg averaged 386c.
Plenty of focus is expected to be on the annual George and Fuhrmann weaner sales in Casino today and tomorrow.
