Beyond the Saleyards: Prices uncertain in lamb backlog

Some lamb processors have bookings well into the new year, which raises concerns regarding where prices to the producer will be by that time.

This is where forward pricing comes into play, which can help to minimise risks for both buyers and sellers.

Similar to what is common practice in grain markets, forward pricing can offer comfort to market participants when they have the ability to make informed decisions to plan inputs for the months ahead.

The Australian dollar continues it’s decline, falling as low US61.7¢ this week before bouncing back to US62¢.

With inflation continuing to rise faster than expected in the US, America’s Federal Open Market Committee is raising interest rates further and faster than anticipated, which is pushing the Australian dollar lower.

The lowering Australian dollar is good news for our red meat industry.

Cattle markets continue to be impacted by rains and flooding throughout Victoria and NSW, with lower numbers transacting at higher values.

In WA, this week started with large numbers of good quality animals at strong values trading at Muchea.

A new release of the Agora Livestock Markets app now offers the ability to view full price grids (rather than a range) and can be found in the app stores.

Processor and feedlot market bids at the start of the week (¢/kg or $/head):

● WA market indices: Vealer steers 546¢, vealer heifers 480¢, yearling steers 546¢, feeder steers 546¢.

● SA market indices: Young cattle: yearling steers 566¢, yearling heifers 546¢. Feeder steers 572¢, feeder heifers 550¢.

● East coast processor prices: MSA: steers 770¢, heifers 765¢. Cows 660¢. Jap Ox: steers 740¢, bulls 545¢.

● Queensland feedlots: Black Angus: 585¢, Black Angus British X: POA, Wagyu X Angus: POA.

To contact buyers and for more price information please login to the Agora Livestock Markets app or online at agoralivestock.com.au.

Rob Kelly is the founder and managing director of Agora Livestock, a free service with the latest sheep, cattle and goat price grids in one easy-to-use app.