March's cattle market update

Highlights for cattle

•  The NCYI in the first week of March is at 352c/kg. This growth came on the back of ongoing export demand. Demand will remain strong throughout March. Despite the growth, prices are modestly lower than the two-year average at 396c/kg. They are also well below the five-year average of 435c/kg. Prices are forecast to remain firm in March. The pillars of strong competition on local markets and export demand acting as a safeguard against significant falls.
• Australian beef exports have capitalised on the strong start to the year which was seen in January. National export volume sat at just over 117,500 tonnes (up 45 per cent from Jan) for the month. In a familiar tale, the United States continues to be the major export market, taking in just over 35,000 tonnes. Australia’s ongoing high volumes to the United States is expected to continue throughout March. However, the potential impact on ports and processing centres from cyclone Alfred may be a limiting factor in how much can be transported.
• Processing rates continued to be robust throughout February. National average weekly slaughter rates averaged just over 143,000 head in February. Year-to-date slaughter is presently sitting 16 per cent up from 2024 and 47 per cent up from 2023. Processing centres continue to be booking well ahead of time with reports of extra Saturday shifts being needed in some cases to manage the high stock numbers.

Tom Herbert

Agricultural Analyst

Tom combines his agricultural degree with strong industry knowledge to provide commentary on local and international beef and cattle market trends.