August 31, 2009

Australia's Queensland and New South Wales (NSW) cattle prices drop further amid a weak export demand, the high A$ and a deteriorating season.

The hot, dry and windy conditions across NSW and Queensland forced more young cattle to market, lowered average quality and further weakened replenishment interest.

Feedlot demand was also weak with the poor export returns. In spite of the six-percent lower prices from the last year, feedlots appear more willing to pick up stock to finish for the domestic market.

Producers will be hoping the promised rains to bring some reprieve.