With one of the most widespread and heavy rainfall events delivering good falls across the south-east of Australia over the weekend, MLA says the scene is set for adequate summer feed and water across most of the country.

This could tighten livestock yardings early in 2009, which would be fortuitous for producers if beef export markets have not improved by then.

MLA reports that export grade cattle prices eased a little further last week, following the early closure of northern works.

But it says young cattle prices were mixed, with the Eastern Young Cattle Indicator up a little while the trade and feeder indicators fell slightly.

In contrast to cattle markets, MLA says lamb markets remain unusually buoyant for this time of year, with higher prices and yardings.

Anticipated lower supplies into early 2009, and benefits flowing from the lower Aussie dollar saw further jumps of 10-20¢/kg (carcase weight) across all the national lamb categories last week, to be 32pc (light lambs) to 50pc (heavy lambs) above year ago levels.

Similarly, the national mutton sheep indicator rose a further 5¢/kg (cwt), to be 26pc higher than a year ago, with some fall in sheep turnoff, stronger restocker demand and the low A$ assisting.