19 September 2022, Australia: National steer prices rebounded in early September, up 3pc to 531 c/kg lwt, 27 c/kg lwt above the 2-year average. Medium steers experienced a sharper rebounder, up 18pc to 451 c/kg lwt. Demand remains robust and disruptions to supply, particularly in Queensland has led to price increases.
The Elders Weather outlook forecasts multiple cold fronts across southern and eastern Australia from 14 to 18 September. In Western Australia (WA), the strongest cold fronts will also start from 14 to 18 September.
From the field
“Continued disruption from frequent rain has held supply of cattle back in most markets. As a result, prices have rebounded in the past fortnight.
“Given the unusual season, this trend could continue in coming weeks, making the flow of livestock inconsistent against a backdrop of robust demand.
“Export activity has picked up over the past month, supporting Brahman prices, it remains to be seen if this will have an impact on other classes of cattle come October.
“In general, conditions on farm from a feed and water perspective are positive, with the exception of some isolated areas of the state.”
Paul Holm, Elders Livestock Manager, Queensland
“Northern cattle markets have experienced an increase in demand over the past 3-4 weeks after a disrupted start to the selling season.
“With 3-4 weeks remaining and demand from Indonesia picking up the market is looking positive. Volume has been similar to last season however cattle have been heavier after favourable seasonal conditions on farm.
“Southern cattle markets won’t get into full swing for another 6 weeks, but we expect robust demand for quality cattle.”
Dean Hubbard, Elders Livestock Manager, Western Australia
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