National cattle yardings fell 22% to 81,928 head after the previous week’s high of 103,794 head. This was fuelled by attractive market prices for producers and anticipation of the market’s end-of-year break.

National cattle yardings eased 6% (down 5,105 head) to 81,428. Dalby saleyards stood out with its largest yarding in five years. Most indicators softened after last week’s long-term highs, but prices remain well above historical averages. Heavy steer prices are still only 10¢ under historical records. Steady yardings and strong weekly slaughter point to solid demand from processors and restockers.

Global cattle prices converge

Cattle prices are tracking well above year-ago levels, with young cattle maintaining a premium to their finished counterparts.

Cattle prices have trended down in 2018 with drought conditions putting increased pressure on the market. However, some states have been more stable than others.

2019 prices for both cattle and sheep have been quite inconsistent, with each of the markets fluctuating week-to-week. Adverse conditions continue to dent market confidence and slaughter remains high.

Changing market dynamics in both Australia and the US has seen a lift in finished cattle prices, whereas prices in Brazil have remained largely unchanged.