RAIN in the past fortnight and renewed buyer confidence has lifted cattle prices right across NSW and forced the Eastern Young Cattle Indicator back above 500 cents a kilogram (carcase weight).
The bulk of the state’s prime yearling steers sold at saleyards last week were six to nine cents a kilogram dearer according to figures from the National Livestock Reporting Service.
Prices were once again positive early this week as saleyards recorded reduced supply and in many cases better quality.
On Monday evening the EYCI was on 503c/kg, which was about 22.25c/kg higher than at the same time last week.
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At Tamworth on Monday good quality calves attracted stronger competition from restockers to sell dearer than the week before.
NLRS reported restocker confidence showed through in the lightweight yearling steers at Tamworth, with market trends firm to dearer.
The rain reduced the number of cattle to just 177 head at the Toowoomba prime sale in Queensland on Monday and that also helped push up prices.
“Prices responded to the rain, however due to the limited supply, improvements were limited to just a few cents,” NLRS reported.
The prospect of rain in the southern half of the state mid this week contributed to a significant decrease in numbers at Wagga Wagga on Monday. The yarding fell to 3700 head (back 1300 on last week).
The Wagga market was pushed up by a bigger group of both domestic, export and feedlot buyers in attendance.
The better finished trade steers sold from 285c to 292c/kg and some lines were as much as 30c/kg dearer.
At the same time, the feeder steer and heifer market rallied on the prediction of rain.
NLRS said all weights and grades sold considerably dearer, with a boat order helping drive prices higher for the lighter weight steers.
“Medium weight feeder steers made from 255c/kg to 302c/kg. The lighter steers sold 16c/kg dearer to average 279c/kg,” NLRS reported.
Meanwhile, store stock have also been selling to a dearer trend.
Cows with calves were significantly dearer selling for a top of $1500 a unit at the Central Tablelands Livestock Exchange, Carcoar, store cattle sale last Friday.
NLRS said a factor in the dearer trend was the better quality lines than last month’s store sale.