Roma sale canceled as cattle market breaks through 700c level

Roma sale canceled as cattle market breaks through 700c level

Beef
The weekly Roma store cattle sale on Tuesday has been cancelled because of good rain across much of the region. Image - BoM

The weekly Roma store cattle sale on Tuesday has been cancelled because of good rain across much of the region. Image - BoM

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The weekly Roma store cattle sale on Tuesday has been cancelled because of good rain across much of the region.

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WIDESPREAD rain across parts of the Maranoa and western Queensland has resulted in the cancellation of the weekly Roma store cattle sale on Tuesday.

With flood waters to the west and south making mustering difficult, Roma agents reported there were insufficient cattle available to proceed with the sale.

GDL livestock manager Geoff Maslen said the excellent rain would add to an already good season for many producers in the Maranoa. However, for other producers, particularly to the south of Roma, it was the first decent rain of the season.

Meat and Livestock Australia's Eastern Young Cattle Indicator has broken through the 700c level.

Meat and Livestock Australia's Eastern Young Cattle Indicator has broken through the 700c level.

Mr Maslen said producers would continue take advantage of the soaring cattle prices.

"Feedlots are competing very strongly for all classes of feeder cattle," Mr Maslen said.

"There's also very active demand for 280-310kg cattle suitable to background."

Last week 4509 head were offered at Queensland's benchmark sale. Between 3000 and 4000 head are expected at Roma's March 3 store sale.

Only limited falls are predicted for the south west region during the next eight days. Source - BoM

Only limited falls are predicted for the south west region during the next eight days. Source - BoM

With the market skyrocketing through the 700c level at the end of last week, the cancellation of the Roma sale is expected to put even more upward pressure on the market.

On the back of a massive transformation in seasonal conditions and big bodies of feed now abundant in many areas, both producers and feedlots are scrambling to secure cattle on offer.

Meat and Livestock Australia's Eastern Young Cattle Indicator currently stands at a record 701.75/kg dressed, a near vertical rise in prices from January 9, when the indicator stood at 477c.

Tropical cyclone Esther is reported as moving in a south west direction, closer to the Gulf of Carpentaria coast.

Tropical cyclone Esther is reported as moving in a south west direction, closer to the Gulf of Carpentaria coast.

Meanwhile, tropical cyclone Esther is reported as moving in a south west direction, closer to the Gulf of Carpentaria coast.

BoM said Esther was expected to continue moving south west and cross the coast between Borroloola and Mornington Island as a category 1 cyclone later on Monday. It will then weaken as it moves westwards into the Northern Territory.

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