Trade Steer

The New South Wales Trade steer indicator is based on the average price paid by processors for steers sold in NLRS reported saleyards in New South Wales, weighing 330 - 400 kg live weight, with muscle score C and fat score 3. It represents cattle that will be slaughtered for domestic supermarket trade.   During the first few months of 2009 the indicator remained low before rallying in June as the season improved.   After the May/June basis rally, the basis eased from average to weak as producers turned off cattle early in increasing numbers due to the dry conditions. Overseas demand for beef remains subdued, with consumers currently price-sensitive in key export markets and the A$ very strong.    Click here to read the Basis Summary Report for the NSW Trade steer indicator.   2010 NSW Trade steer indicator charts Weekly Basis Monthly Basis Price

Medium Steer

The New South Wales Medium steer indicator is based on the average price paid by processors for steers sold in NLRS reported saleyards in New South Wales, weighing 400 - 500 kg live weight, with muscle score C and fat score 3. It represents cattle that are suitable for the grass-fed export beef market; particularly in Korea.   The strengthening Australian dollar reduced the value of export beef sales during 2009, resulting in more of the heavy grass-fed cattle being turned off into the domestic market.   The low young cattle price kept basis slightly above average for much of 2009 before falling below average toward the end of the year as turnoff increased due to dry conditions. Medium steer prices are likely to remain low while the Australian dollar is strong, however improving seasonal conditions should provide some support.    Click here to read the Basis Summary Report for the NSW Medium steer indicator.   2010 NSW Medium steer indicator charts Weekly Basis Monthly Basis Price

Japan Ox

The New South Wales Japan ox indicator is based on the average price paid by processors for steers sold in NLRS reported saleyards in New South Wales, weighing 500 - 600 kg live weight, with muscle score C and fat score 4. It represents cattle that are suitable for the grass-fed export beef market; particularly in Japan.   In 2009 the strong Australian dollar reduced returns to exporters, causing heavy grass-fed cattle to be sold for domestic rather than export consumption.   As the Japan ox price was largely driven by domestic market circumstances during 2009, basis was much more stable than normal although at reduced levels relative to the previous two years. The strong AUD will continue to restrict export beef prices influencing Japan ox price and basis early in 2010.    Click here to read the Basis Summary Report for the NSW Japan ox indicator.   2010 NSW Japan ox indicator charts Weekly Basis Monthly Basis Price

US Cow

The New South Wales US cow indicator is based on the average price paid by processors for cows sold in NLRS reported saleyards in New South Wales, weighing 400 - 520 kg live weight, with muscle score D and fat score 3. It represents cull cows that are suitable for the US grinding beef market.   Demand for 90CL Australian beef was impacted in 2009 by the high A$, recession in the US, and the culling there of close to a quarter of a million extra dairy cows, as part of a herd retirement initiative.   The strengthening young cattle market during the first six months of 2009 caused basis to ease from strong levels.   The strong AUD will have a negative impact on cow prices this year however improving milk prices and a better season should help support both price and basis.   Click here to read the full Basis Summary for the NSW US cow indicator.   2010 NSW US Cow Indicator charts Weekly Basis Monthly Basis Price