April 28, 2010

Australia's livestock prices fall

After successive short trading weeks, Australian livestock market prices fell this week as the stocks volume went up to 8% and quality became more mixed.

Restocker and feeder demand remains strong, with most young cattle and any light cows returning to the paddock or into feedlots.

Russian buying has kicked for manufacturing grade product and cheaper cuts this month, forcing Japan and US buyers to raise quotes.

With Argentine exports likely to remain under tight government controls, Russia could become a price-driver for this product over the April to September period (their traditional meat importing season)--holding up prices for cows especially, but also influencing trimming values off steers and heifers.

Alternatively, good rains, as the Bureau of Meteorology expects in New South Wales over the next three months, would see a continuation of the current prices.