The easing in winter turnoff combined with the recent falls of rain has encouraged buying activity from restockers, feeders and processors in order to secure supplies before the anticipated winter shortfall, helping cattle indicator prices to their highest level this year, according to Meat and Livestock Australia.
MLA says a lack of suitable lines has also encouraged processors and feeders to lift rates in a bid to entice quality cattle onto the market.
Despite rates increasing to the highest level for 2009, the majority of indicators remain cheaper than the same time last year.
The rising Aussie dollar (although lower than a year ago), the low price of hides and other co-products, trading uncertainty and weak export demand have reduced prices year-on-year, MLA says.
As a result, vealer steers are 4¢ cheaper compared to last year at 185¢/kg (live), while yearling steers have slipped 1¢ to 187¢/kg.
The Japan ox indicator is 3¢ lower year-on-year to average 180¢ and US cows are 2¢ cheaper at 127¢/kg.
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