Holiday Slowdown
The week was characterised by the influence of the holiday break, with fewer buyers and sellers coming to market. Prices generally tracked into softer territory due to slack demand, as transport availability was hindered in some areas. The Eastern Young Cattle Indicator (EYCI) seems to have settled into a holding pattern over the last month […]
Softer supply brings a lift
Cattle price boards were a welcome shade of green as the market saw minor price recoveries across multiple specifications. Support for the cattle market this week came from reduced supply to the yards and indications that slaughter volumes are remaining solid. On the downside, Brazil’s strengthening relationship with China may pose some stiffer competition for […]
Rain delay over as supply bounces back
Cattle prices softened across the board this week as supply returned in Queensland and Victoria. On the upside, slaughter demand remains strong, and US boneless beef prices continue to rise as US cow slaughter declines. The Eastern Young Cattle Indicator (EYCI) backtracked another 13¢ (2%) this week, coming to rest at 669¢/kg cwt. Prices for […]
EYCI pitches south, but US exports sizzle
The EYCI has reached its lowest point since February 2020, but part of that can be traced back to the index becoming more southward-biased as yardings in the north fall back due to inclement weather. 90CL in the US continues to sizzle, with forwards for lean imported beef deals clocking in big premiums. The Eastern […]
Percentiles – March 2023
Mecardo’s Percentiles update for March 2023 Click below to view the latest report Grains Oilseeds Sheep and lambs Cattle Wool Dairy Fuel Percentiles are an important tool for assisting in the decision-making process. They can provide an indication of the range in which prices have moved and how much time they have spent at varying levels. […]
Brazil busy as BSE risk eases
The Mad Cow (BSE) case found in Brazil has been confirmed to not be so mad after all, and Brazil continues to increase beef market access to new countries. The EYCI has stabilised, and beef continues to get more expensive in the US, while signs of increasing Asian demand provide reasons to have some confidence […]
US outlook improving but El Niño by July?
Prices for young cattle fell again this week, indicating that restocker confidence is not strong in the market, furthermore the Bureau of Meteorology (BOM) is predicting that we may have an El Niño by June this year. Meanwhile overseas, strengthening US export fundamentals may provide some support and it is looking increasingly likely the Brazilian […]
Mad Cow in Brazil & doubt on herd estimates
A case of mad cow disease (BSE) has been confirmed in Brazil, and as a result, Brazilian beef exports to China halted immediately. While we’ve seen this situation before, we will be carefully watching developments, as the length of the ban will have a significant impact on the outlook for beef. The latest BSE scare […]
Mutton crashes to earth again
Last week’s relative optimism about mutton prices was short-lived, with prices freefalling to levels seen a fortnight ago. Trade lamb prices held, however, restocker demand appears to be waning, with a big fall in the index being recorded. An increase in supply exacerbates the situation. Hopes were dashed on the sheep front with the National […]
Supply surging, market holding
Despite the extreme pressure of the highest weekly yardings of young cattle seen in the last seven months, and probably for years, prices have held remarkably well. The Eastern Young Cattle Indicator (EYCI) only backtracked a few cents while other indicators also displayed considerable resilience. A spike in 90CL prices also indicates that the US […]
Strong slaughter the highlight in a soft week
The price of most specifications lost ground this week, with the trend toward quality, and selective buying driving wider price ranges for cattle. Reliable supplies of boxed beef purportedly offered onto the domestic market also dragged on supermarket buying activity. The bright spot is undoubtedly strong slaughter figures indicating capacity for sustained underlying support to […]
Mutton surges on Chinese demand
A welcome deluge of demand from processors with Chinese orders has helped mutton prices surge this week. Despite the hotpot fuelled celebratory mood in mutton, demand for trade, restocker, and heavy lambs has cooled, with prices dipping even as reduced supply provided support. The National Mutton indicator (NMI) jumped a massive 43¢ (13%) this week […]
