Australian Cattle & Beef Market Report

By: Ripley Atkinson, Ripley Atkinson

Fri, 17 Apr 2026, 06:02

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Yarding records smashed as north / south price divergence intensifies

Key Points

Watching how the lamb industry operates in 2026 on a price level due to processors slowing chain speeds or closing plants will be important for the beef industry to watch and a good reminder of the risk producers face in the market at a price level due to the herd cycle swinging wildly out of kilter.
Record setting yarding’s across the northwest of NSW and at a monthly and quarterly level, records for the country set in March à with northwest NSW early liquidation of numbers contributing heavily to this.
Short working weeks & school holidays may be masking underlying heavy supply due to hit the market in May, which is why I’m yet to call this market in the clear.

Supply

Liquidation in central eastern Australia continues on older breeding females both in the yards and direct to works à this heavier supply of cows offered out of these regions has negated the need for southern processors to operate further north due to large supplies found closer to home.
- There’s also going to be repercussions for feeder availability throughout the above regions in Winter & Spring of this year as cattle have exited as weaners and are sold to non-local buyers – a factor to be mindful of as the year rolls on.
In dry times like this for big cattle drawing areas, don’t be surprised to see a bit of an uptick in grassfed cattle slaughter through 2026 – producers exiting stock earlier than usual to slaughter if feedlot pen space isn’t available within an appropriate timeline.
The dry in northern NSW has meant that the month of March has broken all kinds of records for saleyard supply – none more so than the northern NSW combined yardings of Scone, Gunnedah, TRLX Tamworth & IRLX Inverell rising 101% or 56,121 head on Feb-26 numbers and easily ranks as the largest month of record for these yards individually and combined (at least since NLRS began reporting)
- In addition, Nationally the month of March was the largest NLRS reported month and quarter on record for saleyard supply since the NLRS began reporting in 2000.
- Over 400,000 moved through NLRS saleyards in March, with north west NSW alone accounting for over 25% of the national total.

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Demand

Weight will pay this year through winter in regions south of Roma – buyers will be desperate for cattle with kg’s and big premiums will begin to emerge for vendors who can present stock that hit the top weight brackets on grids.
- Feed lotters do like the addition of compensatory weight gain from light cattle which have been affected by dry conditions, but that can be offset by larger supply overall which encourages heavier entry weights to drive higher turnoff by shortened days on feed.
At a feeder level – sums are being done on both Angus & Crossbreds into the middle of the year, pricing direction in the 100 day market will become clearer for feeders over the next few days as August 26’ contracts are released – influencing demand for the crossbreds and determine where feeders can pay for cattle.
- A rising grain market will add pressure to prices feedlots can pay.
Interest from southerners in northern markets is continuing to lift, particularly on light cattle for a trade as northern values ease further.

Price

Heifers in my eyes continue to represent good value despite spreads widening at the other end with feeder steers due to heavier supply I think there’s a good trade in them, regardless of breed.
Continued divergence in values between the north and south in this market – confidence continues to lift for southern markets and prices as a result, in the north, the easing cycle continues
Since mid to late last week the market has steadied but I’m yet to call it in the clear, I believe the short working weeks are masking some underlying fragilities, mainly around supply – into May we’ll have a clearer picture.
US Live Cattle contracts has notched new record highs this week, whilst feeders are very close – the rally in prices since mid-March has been breathtaking to say the least
- The CME Feeder Index at US$3.75/lb adjusted into AUD means feeders are currently worth A$11.53/kg lwt
Without seeing the physical cattle themselves, the spreads on prices for cattle from the lows to highs in saleyards indicate a serious mix of quality being presented and buyers are caning poor quality cattle as a result.
Angus to crossbred spreads now at 71c/kg lwt based on Argus Media numbers – 30c/kg lwt higher than the corresponding week 12 months ago – giving you clear indications of the weakening in the crossbred rate but also the sustained demand for Angus feeders.

Weather

Models beginning to align with the long-range forecast for an ANZAC day Autumn break across SA, VIC & Southern NSW – this feature as it develops will signal the shift into the southern dominant weather systems and the end of the northern wet season.
- This autumn break should begin to address critical water and feed shortages across many drought affected areas of the past two years and signal a steady transition away from below average conditions.
- Watch the development of the southern season and role it plays in dictating buyer behaviour – both at a producer level and from feedlots and processors – encouraging them to do the sums on buying out of NSW & QLD.

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Meats & Livestock

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