The price direction of Australia’s cattle market and national herd rebuild now hinges on a solid seasonal break, following a dry finish to winter and hot September across much of Australia.
Just when many of us were wondering if it would rain again before Christmas, some areas managed a nice little drink which helped boost livestock markets.
The young cattle market slipped a little further in the past week and the Eastern Young Cattle Indicator is now lingering just above 500 cents a kilogram (carcase weight) mark.
In the grip of another dry year in the Western Plains it is easy to let the weather dictate your mood.
After months of price pressure, rendered beef products such as tallow have finally started to stabilise.
The cattle market has certainly been the focus of much discussion due to easing prices and weakened seasonal conditions through out much of Queensland and NSW.
With less than a tablespoon of rain since mid June, much of the North Coast is running out of feed and there will be temptation to offload vealer calves.
The New England and North West has really become quite dry again with virtually no rain during July and August.
A combination of the states driest July since 2002, low restocker interest and a lack of supply across the board has caused a price drop for young cattle.