August 11, 2008

Australia's cattle numbers return after disruptions

Throughput at Australia's National Livestock Rearing Service (NLRS) reported saleyards increased by 85 percent this week after last week's transport disruptions, with offerings 17-percent above last year.

Australia's export cattle prices were also slightly dearer, with the Japan ox indicator rising 2¢, to 189¢, while the US cow indicator gained 1¢, to finish Thursday (August 7) at 140¢/kg.

Export demand for cattle also increased following the recent depreciation in the Australian dollar, which saw values fall close to 6 percent in a fortnight.

Grown steer prices gained 2¢ nationally, with the Japan ox indicator finishing Thursday at 189¢/kg. NSW and Queensland both experienced price gains in the saleyards, while the majority of processors left over the hooks prices firm to dearer.

Cow demand also remained strong and benefited from the dollar depreciation. Subsequently, the US cow indicator gained 1¢, to finish at 140¢/kg. Over the hooks cow prices made gains of around 10¢/kg cwt in every state, as processors looked to secure numbers.