April 8, 2004

Australian Cattle Prices Remain Steady

Cattle prices in Australian saleyards were mostly flat across all categories this week, marketing concern Meat & Livestock Australia Ltd. said Thursday in an abbreviated weekly report.
 
The MLA normally publishes a detailed market commentary along with weekly statistics on Fridays, but it opted for a shortened prices-only report this week due to the four-day holiday weekend in Australia.
 
Approximately two-thirds of Australian beef production is exported, making it a major world beef exporter, and making export demand an important driver of prices in domestic saleyards.
 
Prices in Japan for Australian chilled grass-fed fullsets remained unchanged this week at US$1.95 a pound, including carriage and freight, up from a year-ago level of US$1.68/lb, MLA reported. A fullset comprises about a dozen different cuts of beef.
 
The estimated free on board price for this product in Australia was quoted at A$5.22 free alongside, up 1 cent over the week, and well off the year- ago level of A$5.69.
 
Prices in Japan for Australian frozen brisket jumped 29 cents this week to US$2.08/lb, including carriage and freight, well up from a year-ago level of US$1.03/lb.
 
The estimated free on board price for this product in Australia was quoted at A$5.68 free alongside, up 83 cents over the week, and substantially above the A$3.44 price this time last year, it said.
 
In Australia, a national price indicator for the type of beast suitable for Japan closed the week just 3 cents lower at A$2.89/kg, also down from A$3.29/kg a year ago.
 
In the U.S. this week, Australian frozen 95 chemical lean bull beef added 4 cents to US$1.20/lb, including carriage, insurance and freight, up from US$0.92/lb a year ago.
 
Frozen 90CL cow beef gained 3 cents to US$1.12/lb, up from US$0.87 last year.
 
The free on board prices in Australia for these products rose 10 cents and 9 cents to A$3.11/kg estimated dressed weight and A$2.88/kg respectively, free alongside.
 
In Australian saleyards, a national price indicator for cows suitable for the U.S. trade added 1 cent to A$2.53/kg estimated carcass weight, also up slightly from A$2.50 a year ago.
 
A national price indicator for the type of beast suitable for the South Korean trade fell 1 cent to close the week at A$2.94/kg, down from A$3.13/kg a year ago.
 
A national price indicator for domestic trade steers edged up by 2 cents to settle at A$3.19/kg, nonetheless down from a year-ago level of A$3.40/kg.