Beyond the Saleyards: WA sheep prices fall with oversupply

Direct sheep prices continue to fall when the market is accustomed to buyers calling out for stock. Yardings were also down in WA from the oversupply of sheep. Staffing issues for usually busy feedlots are continuing to cause problems as is acquiring space to on sell stock. The Australian dollar has fallen close to 1 cent US as a result of broad strength in the US dollar from stronger than expected economic data leading to the expectations that the US Federal Reserve will need to raise rates for a longer period than recently thought. The falling dollar should have been good news for Australia’s wool market, but the weaker demand for wool from China outweighed any bounce from the currency fall, leading to wool prices coming off 32c/kg. Australian beef exports were lower again in November despite it usually being one of the busier months of the year. This is affecting prices which have trended lower across the country. In WA there has been large price fluctuations, so much so that several buyers are holding off on quoting for fear of taking unnecessary risk in over quoting prices. Processor and feedlot market bids at the start of the week (¢/kg or $/head): ● WA market indices: vealer steers 508¢, vealer heifers 490, yearling steers 400¢, yearling heifers 396¢. ● SA market indices: vealer steers 466¢, vealer heifers 478¢. Grown steers 426¢, grown heifers 430¢. ● East coast processor prices: MSA: steers 735¢, heifers 730¢. Cows 650¢. Jap Ox: steers 705¢, Bulls 490¢. ● Queensland feedlots: Black Angus: 545¢, Black Angus British X: POA, Wagyu X Angus: POA For saleyard reports and prices as soon as they are released download the Agora Livestock Markets app through the app stores or visit our website at www.agoralivestock.com.au 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.