The cattle market has burst back into life, with the recent rain continuing to drive younger cattle values higher while rates for slaughter grades are showing signs of settling.

Young steers and heifers have pushed into much higher price territory as restockers act on the better-than-anticipated autumn rainfall.

All the major store markets have reported sales in excess of 600c/kg liveweight for black calves.

An interesting case study is Tamworth in NSW which was at the centre of a record sell-off of cattle and low prices during April and early May.

Last Friday, the centre had a major store sale of 3300 cattle and most grades of steers surged by more than 100c/kg, according to National Livestock Reporting Service reporter Hamish Hosegood.

The quote for light Angus steers in the 200-280kg weight range was $1.50c/kg dearer as they rallied to sell from $1140 to $1810 to average 645c/kg liveweight. Angus heifers in the same weight range were 70c/kg dearer, selling from $920 to $1570 to average 549c/ kg.

The online average price for young cattle spiked to a high of 553c/kg last week.

However, there are signs the market is starting to settle rather than keep pushing higher.

The King’s Birthday public holiday meant there was no prime cattle sales held in Victoria and NSW on Monday this week.

Results from sales last week showed a slight softening for most export grades following the big price run of the previous 10 days.

The national cow price indicator was trending at 378c/kg liveweight this week, to be off from the high of 390c/kg recorded late last week.

But good quality beef cows have been selling strongly at southern saleyards, data from the NLRS showing all the key Victorian sales averaged over 400c/kg with individual cows with weight and shape selling for up to 440c/kg.

The US beef market has strengthened again on the back of news the parasite New World Screwworm has now been detected in Texas.

The feeder steer market has been buoyant in the past week, pushed along by feedlot buyers facing more pressure from restockers.

Heavy feeder steers have consistently sold over 500c/kg, with the best Angus recorded either side of 560c/ kg.

The national saleyard feeder steer indicator started this week at an average of 515c/kg.

In the domestic market, the top vealers and grain-fed steers and heifers have been selling from 510c/kg to 540c/kg with limited very high yielding bodies to 550c/kg.

After this, the general run of grassy heifers have been selling from 440c/kg to 480c/kg.

JENNY KELLY