April's cattle market update

Highlights for cattle

• Australian cattle prices recorded moderate growth again throughout March with prices peaking in the final week of the month. Supply chain issues limiting available cattle on markets provided underlying support for prices, as did ongoing export demand. The National Young Cattle Indicator moved to a peak of 371c/kg on the final day of March, but despite the increase, prices are still 15 per cent below the five-year average. Prices are forecast to see a marginal increase throughout April with continued export demand and the market recovering from wet weather which wreaked havoc on transportation and processing capacity.
• The ten per cent US tariff is expected to translate into only a minimal reduction of Australian beef export volume to that market. Beef export volumes to the USA are expected continue at high levels in March as witnessed over the past year, with the only limiting factor being the processing capacity of local centres due to supply chain issues. Beef is forecast to remain in high demand from consumers and with US beef importers, who will now be paying more to access product. It seems likely this will have a flow on effect to US domestic consumers.

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.