October reversed the trends of September with the market regaining all September declines and moving higher. The strength in global beef demand is now clearly evident and despite the relatively low levels of Restocker participation the market is being well supported by competition amongst Processors. Cows offered the highlight of the month with the National Medium Cow Indicator moving 10.5% higher to a new 2019 high ($236c lwt). This indicator is reflective of grids for cows moving higher ($450c - $480c cwt) and reports from the yards of heavy cows returning >$2,000 per head. 

Young cattle also were in higher demand with a 5% increase to the EYCI ($511c) on similar throughput numbers to September (-5% move). The previous strong premium feedlot premium is now being evaporated from yard results. Naturally with Restocker/Backgrounder participation low the demand for feedlot entry weight cattle remains significantly stronger ($300c +/- 5%), generally in the range of $40c-$60c above lighter cattle that require more time & feed.The growing demand for young cattle is backed by the Grain Fed grid prices firming above $6 kg. The QLD Heavy Steer Indicator jumped substantially late month ($323c lwt) to finish at $319c, only marginally below all time highs. Per the below graph the young cattle (EYCI) are now trading at a wider discount range to the QLD Heavy Steer and being chased by Cow values - stimulus to move higher.

We were thrilled to see our friend, Mark Cooper (Copper Hereford Ranch), inducted to the American Hereford Association Hereford Hall of Fame during the month. We thought fitting to briefly look at the history of Line One and Mark's part in this. 

The L1 program was established in 1934 by the United States Department of Ag (USDA) at Fort Keogh, Miles City, Montana. In 1947, Jack Cooper (Mark's Father) negotiated the purchase of 15 L1 Females from his brother in law, Dr Ray Woodward, the L1 Project Leader. Jack Cooper and his brother Leslie Holden (later Holden Herefords) began breeding L1 cattle and were instantly impressed by their ability to thrive under tough commercial conditions. This opinion was validated by the early pioneering of individual animal recording and in fact the herd was a foundation member of the Montana Beef Performance Association in 1957. The first Cooper Sale was held in 1965 and enjoyed instant support from Cattlemen from across the country, support which continues today.

In 1977 Mark Cooper (Jack's son) returned to Willow Creek and began working alongside his father - a partnership that lasted 40 years. During this time Mark worked diligently to position L1 cattle at the forefront of the industry, particularly focused on the attributes demanded by the consumer driven beef supply chain. Today more than 50% of Herefords in the AHA database trace back to Line One genetics. L1 genetics have also been exported across the world with great success. The closed herd offers breeders of straight bred and non Hereford cows a unique degree of heterosis (hybrid vigour) and with 85 years of production orientated breeding focus L1 genetics continue to be the choice of many. The USDA program remains the world's longest running beef breeding project.

Under Mark's management the Cooper Hereford Ranch has grown from 480 acres to over 4,000 acres of fertile mixed beef & cropping country. L1 cattle continue to enjoy incredibly strong support, consistently amongst the highest annual sales averages in the USA and producing highlights such as the $155,000 CL 1 Domino 6128D in 2017 and the $170,000 CL 1 Domino 7131E in 2018 (Both 3R Sires).

Mark Cooper - a true legend of the Hereford breed!

Visit www.cooperherefords.com