LIGHT animals with plenty of time ahead to turn abundant grass into dollars remain the product of choice on the rails.
However, in the medium and heavier steer categories it appears there is just enough uncertainty to take the ferociousness out of the bidding.
That has seen young cattle prices start to creep up again but feeder cattle prices soften, although the hesitancy in the feeder job is far more northern than southern.
The northern cattle feeder price dropped six cents a kilogram last week to $5.28/kg, with feedlots signaling even lower price ambitions of around $5.20 to $5.25/kg later in the month.
Market comments from Tim Jude, livestock and commodities broker with StoneX Financial, talked about a 'Mexican standoff' in the north between feedlots offering lower prices and sellers prepared to hold out for higher prices.
Quality was still receiving a premium, Mr Jude reported, with the cold snap bringing the weight gain potential for higher Brahman content cattle over winter into sharper focus, particularly given the still-high grain price.
The medium steer indicator has dropped 51c in a week to sit at 432.98c/kg lwt. Feedlots take more than 80pc of this category.
Meat & Livestock Australia analysts said higher grain prices and difficulties around supply was putting pressure on the feedlot sector.
In the south, however, agents say feeder cattle are still going strong, although demand has shifted towards the heavier end, with the 500 to 600kg category doing a solid business.
Elders southern livestock manager Matt Tinkler said that was driven by rising feed costs and feedlotters wanting both heavier weights at the other end, and to get there quicker.
Potentially, the trend would take grass-finished cattle out of the market down the track, he said.
Rabobank's latest agribusiness monthly report also questions whether cattle being held longer on feed given limitations at abattoirs may lead to drop in feeder prices later if there is somewhat of a glut.
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The Eastern Young Cattle Indicator, meanwhile, has lifted 17c week-on-week to sit at 1127c/kg carcase weight today.
Mr Tinkler said spring-drop weaners in the south were largely all sold now and supply was starting to steady, the traditional trend for this time of year.
But demand was still hot, driven by good seasonal conditions and that was keeping upward pressure on prices.
Joinable heifers were very well supported, and cow and calf units were still making in excess of $5000, he said.
"That all speaks to ongoing rebuilding but we are moving into the time of year when there is not a lot of growth, so there is probably not as much upward pressure on prices as we might see in August if the season is still looking good," he said.
Chief economist with the AuctionsPlus market insights team Tim McRae said the largest number of 200 to 280kg steers seen in a long time was sold online last week, with more than 3500 head averaging 748c/kg live weight, a lift of $49 a head.
Big numbers went to southern Queensland, which speaks to how much grass is around and how hard it is for NSW restockers to secure they numbers they need at the moment, he said.
In the feeder steer category, the online competition was also not as fierce as it had been, he said.
The young cattle market would likely stay at current levels for the next six to eight weeks, given the rain about, Mr McRae said.
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