Market Morsel: Pre-Easter supply dip
East coast cattle yarding levels continue to head south, despite NSW and Queensland sale yard throughput finding a bit of a base for the week ending 2nd April. Cattle yardings eased 20% from the week prior to see just 20,758 cattle presented at sale yards.
This is 53% below the levels that could be expected for this time in the season, according to the five-year average pattern. Cattle yarding levels in Queensland trekked sideways with just 56 fewer cattle yarded for the week and NSW cattle yardings actually gained 15%. The big factor weighing on east coast cattle throughput this week was softer Victorian yarding levels, off a massive 62% on the week prior to see 3,237 head presented.
East coast lamb throughput dropped 21% on the week to register 121,566 head and east coast sheep saw larger week on week declines, with volumes dropping by 41% to just 28,768 head presented.
After running ahead of the average trend since February the weekly Victorian lamb throughput levels eased 27% on the previous week and is now running 16% under the five-year average. NSW lamb yarding dropped by 21% on the week and is sitting 29% under the five-year trend for this week in the season.
NSW sheep yarding levels mostly trekked sideways with just 380 fewer sheep presented. At 12,563 head of sheep this represents levels that are 63% under the five-year average pattern. Meanwhile Victorian sheep yarding volumes are off by 57% on the previous week to see just 12,629 head of sheep yarded. This is a level that is 47% lower than what could be expected for this time in the season, according to the five-year average weekly trend.