Market Morsel: Where’s the beef?
Meat and Livestock Australia’s weekly cattle throughput report shows a swift drop in cattle yarding levels for Queensland for the week ending the 19th March. A mere 12,628 head of cattle were presented at Queensland’s sale yards for the week, the lowest volumes seen since late January as the new season markets were just getting fired up.
The current cattle throughput levels in Queensland are 41% below the figures reported on the previous week and represent yardings that are 35% under the five-year average pattern for this week in the season.
The softer Queensland cattle volumes have dragged down the broader east coast cattle yarding measures for the week with just 36,948 head reported at sale yards along the eastern seaboard. East coast cattle yarding levels are running at the lowest level in six weeks and this is despite a big lift in cattle yardings in Victoria, with volumes jumping by 32% on the week in the southern state.
East coast yardings are currently sitting 33% under the average seasonal trend that could be expected for this time in the year, according to the five-year average pattern.