DIRECT consignment slaughter cow prices have hit record highs this week in Queensland, topping the blistering market levels seen back in 2022 when the industry was in full-on herd rebuilding phase after drought and processors were being starved of cattle.

The over the hooks rates in Queensland have clearly followed the booming saleyards cow price trend reported in this article last week.

Competitive quotes from southern Queensland export processors seen this morning have four-tooth grass export ox on 770c/kg (780c available for no-pill cattle on some grids), and 700c/kg on heavy cows.

Those rates are up 30c/kg on cows compared with this time last week, and 10-20c on grass ox. Some southern Queensland processors were still quoting 670c/kg on heavy cows and 760c on ox this morning, but may find it hard to secure numbers at those levels.

It means some categories of northern slaughter cattle have now risen 20-40c in the past fortnight or three weeks.

By way of comparison, this same week in 2022 (week commencing 23/9) saw cows on 690c/kg and grass four-tooth ox and 745-755c. Both are all-time records this week.

Central Queensland plants are generally 20c/kg behind the offers quoted above.

While Central Queensland sheds appear a little better serviced than those further south this week, most Queensland plants are currently three to three and a half weeks forward on bookings (with a few smaller holes to fill), taking vacancies out to weeks commencing 13 and 20 October.

In southern states, there appear to have been few if any changes changes to direct consignment grids, although these are already well above equivalent rates in Queensland, reflecting the local supply situation. Quote seen this week still have processors in eastern parts of South Australia and southern NSW at 740c/kg on heavy cows, and grass four-tooth ox no implant 810c/kg.

Some Victorian processors are this week offering as much as 850c/kg (delivered west of Melbourne) for northern export grass steers, valuing them at around 820-825c/kg on leg, before freight.

Some very large consignments have been negotiated recently, including 900 northern Queensland paddock bullocks in one consignment headed for the NSW southwest slopes  that apparently did not travel at all well, from an animal welfare perspective.

Grainfed forward contracts head north

In other market segments, Beef Central has heard reliable quotes of 820c/kg – and as much as 850c/kg – for forward contract January delivery 100-day grainfed cattle in southern Queensland.

That shows a sharp response on December delivery cattle where rates of 770-780c were quoted earlier, and follow Beef Central’s earlier 100-day grainfed trading budget that flagged some big losses in 100-day programs based on December close-outs.

Saleyards trends

The NLRS slaughter cow indicator (made up of eligible cattle in all 24 NLRS reported saleyards) continues to sit close to record highs, reported earlier today at 391.67c/kg liveweight, up 15c/kg in the past week and 34c/kg higher than a month ago. This time last year, the cow indicator was more than a dollar a kilo lighter, at 288c/kg.

Gunnedah yarded 2750 this morning, down 700 on last week. Slaughter types general eased from last week. Grown heifers to process made from 415-434c/kg. Medium cows were cheaper losing 16c/kg. Heavy cows to 15c/kg cheaper selling from 320-436c/kg.

Wodonga sale this morning yarded 1200, up about 300 on last week. Demand fluctuated with buyers purchasing around breed and fat cover. On the export side heavy steers suitable for processors sold from 455-500c/kg. Heavy cows were keenly sought, making from 418-470c/kg. Leaner cows less than 520kg were very mixed selling from 300-408c/kg.

Roma numbers jumped by 1200 this morning to 9631. The market firm to slightly stronger for most categories. Grown steers 500-600kg sold to to 418c/kg, with +600kg descriptions selling to 420c/kg. Bulls sold to 426c/kg. Cows were yet to sell – full report tomorrow.

Wagga sale yesterday yarded 2870, up 800 on last week. There was a larger number of cattle in the 400-500kg range, specifically suiting domestic processors. On the export front, the numbers remained limited. Heavy steers and bullocks to suit processors fetched prices from 440-528c/kg. Heavy cows were in high demand, lifting by 12c to range from 420-455c/kg. Cows less than 520kg experienced strong competition, as buyers sought to make up loads with lightweight cows, with prices varying from 330-433c/kg.