Market eases but prices still strong

After an extraordinary start to 2015, the market has fallen under the weight of large yardings as drought stricken producers move to offload the last of their stock before the onset of winter.

MLA manager of market information Ben Thomas said Roma agents recorded their largest yarding for 2015 with 9138 head sold yesterday.

Mr Thomas said while prices for Eastern Young Cattle Indicator (EYCI) eligible cattle were back about 5c/kg on the previous Roma sale, the market was still very strong.

“People are still destocking but we need to remember that the markets are still very strong compared to where they were this time last year,” he said.

“Prices for EYCI cattle were back 5c/kg at Roma on Tuesday but that is still 140c/kg higher than this time last year.

“We are still seeing some really strong feedlot interest and, closer to the coast, there is still restocker interest which is helping the market along.”

Mr Thomas also said the low Australian dollar, which was sitting around $A76 on Wednesday, was also assisting the market.

However, he said the weight of supply would continue to put downward pressure on prices unless rain was received soon.

“We have seen such high turnoff for 18 months now in both the form of live export and slaughter,” he said.

“Now is a really crucial time in both northern and southern Australia for an autumn break. If we don’t get some good rain now, especially in the north, it is likely that we will see those high turnoff numbers continue to have a negative impact on prices.”

Numbers at Tuesday’s Roma store sale were boosted by the annual offering of 1073 Angus-cross steers from Bevan and Allison Doyle, Tumbar Grazing, Jericho.

The Doyle’s achieved their highest price yet in their eleven year history of offloading their steer drop through the Roma Saleyards.

Weighing an average of 354kg, the steers made 247c/kg to return $875/head.

“That’s certainly the highest price we have received but I also think they are the best cattle we have ever put up,” Mr Doyle said.

Meanwhile, the Australian Braford Society put on a solid display at the Roma store sale this week when it hosted the annual Roma Braford and Braford Infused Show and Sale.

Mitchell’s Warren and Sue Wilson were delighted to win Champion Pen of Steers with a pen of Braford/Charolais steers that went on to sell for 252c/kg.

Averaging 476kg, the winning pen returned $1200/head.

The Wilson’s sold a total of 101 Braford-cross steers averaging 456kg to return an average of $1138.

They were also successful in the female classes, winning Champion Pen of Females. The Wilson’s sold a total of 136 Braford heifers averaging 283kg to a top of 200c/kg and an average of 196c/kg to return $556/head.

Mr Wilson, who lives on Redbank, 120km north of Mitchell, said about 650 head were yarded for the feature sale.

“We didn’t have any western cattle this year – we usually have cattle from Longreach, Winton and Hughenden but a lot of those areas are destocked now,” he said.

“We have cattle here today from Taroom, Dirranbandi, St George and Morven though.”

Other successful exhibitors included Dirranbandi’s Andrew and Libby Price, Wallumbilla’s Kelh family and the Stewart family, Wycombe, St George.

Watkins and Co’s Jimmy Green said the cattle were a credit the breeders in a tough season.