Nationally, the heavy steer indicator lifted 6¢, to finish the week on 337¢/kg cwt, while the medium cow indicator rose 6¢, closing Thursday on 273¢/kg cwt. The EYCI finished the week on 315.5¢/kg cwt, up 6¢, buoyed by price improvements in Queensland and northern NSW markets.
However, despite the cattle market continuing to kick, as the northern storm activity acts as a catalyst for improving livestock prices, eastern states weekly cattle slaughter remained at the commonly occurring historically high levels seen throughout the year. With further falls forecast for the next week, covering the same area as the falls received this week, the number of store conditioned cattle offered may start to taper, and consequently, there may be a slowdown in slaughter.
In contrast, with a rise in supplies, most lamb market indicators decreased this week, with the heavy lamb indicator losing 9¢, to close the week on 402¢/kg cwt, while light lambs finished the week on 354¢/kg cwt, back 11¢. Supplies are likely to remain high over the coming weeks, as we remain in the peak turn-off period. In a similar fashion, the national mutton indicator also lost ground, to settle the week on 199¢/kg cwt, down 8¢ from last week.