With another major rain event unfolding across the NT, and due to drift into southern Queensland over coming days, livestock turnoff remains low across all species, causing major problems for abattoirs and exporters.
Many cattle abattoirs have been running on fewer shifts so far this year, and three mixed species works have closed recently.
The extent of the problems posed for small stock operations was illustrated again this week, with the announcement of a three-month closure of Castricum Brothers in Victoria, a major lamb processor/exporter.
Rarely have all livestock species been in low supply at the same time, but so far this year, weekly cattle slaughter has averaged 16 per cent below last year, calves 14pc, lambs 17pc, sheep 30pc, goats 15pc and pigs 3pc (MLA’s NLRS).
Cattle, lamb and goat supplies can be expected to rise substantially in autumn, as many of the animals retained so far this year are brought to market – mostly in top condition. This could see an unusual autumn price correction, especially if the A$ remains around 90USc, or moves higher.
Japan ox prices lifted a further 7pc this week, and the EYCI rose to 339c/kg cwt, both are now 7-8pc above the same time last year. While trade and heavy lamb prices eased, they remain around 20pc higher than a year ago. Sheep prices rose to a record 333c/kg cwt, up 73pc on last year.
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