Livestock prices in Australia rose amidst rainfall

On Tuesday at the Roma sales, weaner steers from the Winton region fetched a record $7 per kilogram, exceeding $1,900 per head. At the Dubbo facility, high demand from restocker buyers triggered a market boom. Young steers here reached up to $7.40 per kilogram, and heifers up to $6.50 per kilogram. According to a local report, young livestock gained up to 80 cents per kilogram in price compared to the previous week.

Farmer Scott Lofnan, running an operation west of Roma, recorded over 160 millimeters of rainfall. In the thick of harvesting wheat, barley, and chickpeas, he noted that the precipitation was not very beneficial for the winter crops, and the quality of some of the chickpeas might decline. Nevertheless, the farmer sees the positive side in that the moisture will allow grass to grow and prepare the soil for the next sowing.

At the national level, the MLA manufacturing steer indicator exceeded $4 per kilogram for the first time in history, and the heavy steer indicator reached a record $7.77 per kilogram. Global AgriTrends livestock market analyst Simon Quilty explained that the supply of heavy steers is limited, causing processors to compete with feedlots. According to him, due to the shortage of supply, feedlots have increased the weight range of accepted cattle from 450–500 kg to 550–630 kg, which has created a demand overlap with the needs of slaughter-oriented facilities.

Simon Quilty believes that the Australian cattle industry is at the initial stage of herd rebuilding. He forecasts a further increase in livestock prices next year, in particular, a rise in the cost of heavy steers by approximately 20 percent — to around $5.70 per kilogram.