Trading was steady to lower this week with negative pressure reported in the export and destination markets. Sources indicated that heavy supply has created some pushback in the exporting markets, with some indicating increased nearby supply. Australian weekly cattle slaughter was reported at 123,950 head, down 3.5 percent from last week, while the figure marked a 16.7 percent positive year-on-year change, according to the National Slaughter report from the MLA. Year-to-date slaughter now stands at 5,509,933 head, a 27.1 percent increase from 2022.

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