Processors and Prices
Weekly east coast cattle processing volumes have trekked sideways (for the week ending 20th May) with just 476 additional head of cattle processed from the week prior.
Cattle processing volumes hit 85,250 head with Queensland seeing nearly 13% more cattle sent to the abattoirs compared to the previous week’s volumes. NSW and Victoria saw fewer cattle processed with declines on the week of 14% and 6%, respectively.
Weekly lamb slaughter on the east coast continues to mirror the average seasonal trend for this time in the year, easing nearly 4% to 337,908 head.
NSW lamb slaughter volumes dropped 10% on the week, for the week ending 20th May. Meanwhile, Victorian lamb slaughter levels only registered a 2% fall over the week.
Meat and Livestock Australia have noted that weekly sheep slaughter volumes are missing some contributions from processors so current reported volumes are due to be revised in the coming week.
Young cattle markets have displayed somewhat mixed messages across the nation, the east coast indicator lifted 1.1% on the week to hit 1113c/kg cwt meanwhile the western indicator dropped 0.9% to finish at 1091c/kg cwt, yesterday.
The National Heavy Steer indicator demonstrated strength over the week, lifting 6.6% to 467c/kg lwt.
The Eastern States Trade Lamb Indicator (ESTLI) continues to see-saw around 800 cents, dropping 3.5% this week to close at 777c/kg cwt. The volatility in the eastern indicator movement is nothing compared to what has been displayed in the west with the WATLI lifting 29% to finish yesterday at 707c/kg cwt.
National Mutton prices have remained relatively stable over the week after a strong rally last week. Mutton prices eased just 4 cents to close at 617 c/kg cwt.