Cattle markets see rising prices and shifting supply in Australia and New Zealand

Cattle markets in Australia and New Zealand are experiencing significant shifts in supply and pricing dynamics. In Australia, cattle prices have maintained upward momentum as spring approaches, with major categories seeing price increases for a month straight. National cattle yardings reached approximately 53,000 head, a 26% increase from the previous fortnight, though this remains 40% lower than the same period last year.

Restocker steers in Australia have seen substantial gains, rising nearly 8% in a week to close at 529¢/kg. This price is currently 20% above the five-year average, with restocker steers averaging $200 more per head than they were a month ago. Future price trends will likely depend on rainfall and export demand.

In New Zealand, the cattle industry has faced supply constraints due to calf rearers exiting the market, forestry conversions, and a declining dairy cow herd. While the annual cattle kill shrank significantly from its 2021 peak, supply appears to be turning a corner. Calf rearing numbers increased by approximately 120,000 to 145,000 last year compared to 2024, driven by a recovery in calf rearing activity.