The cattle market much like the New Year’s Eve fireworks opened with a bang with the majority of indicators hitting 12-month highs in value. Demand was strong at the rail, supported by a tighter supply side as not everyone is back in operation just yet. Rain on the forecast for the east coast will likely enhance demand from restockers.
The
momentum of the rally seen coming into the end of 2024 was maintained with most
of the indicators finishing the week higher than when they finished last year. The
Eastern Young Cattle Indicator (EYCI) was up 5% compared to the final selling
week of 2024 (week ending Friday 20th of December). Yardings for the
first week also rose when compared to the first selling week of 2024 by 6%.
Wagga had the largest contribution of 26% in regard to yardings whilst also
commanding the highest average price. Its saleyard report mentioned that
despite secondary quality and not all buyers being present there was still a
“big uptick in price.” The EYCI closed the week at 705¢/kg which is the first
time since the start of March in 2023 it’s been above the $7/kg mark.
Processor cows also started the year strong with a 7%
increase in value on where they finished the year in 2024. Yardings back
slightly on the final selling week, and the first week of 2024 which would have
provided upwards pressure on prices. Dubbo commanded the highest average
selling price for the week with buyers keen to secure numbers according to the
saleyard report.
Weaner Sales are underway and whilst like the Lamb market
there isn’t a specific indicator to track the performance, reading the saleyard
reports the demand side seems very robust, with strong competition from the
north as well as local. According to the NVLX Wodonga report both feedlotters
and store buyers showed “unrelenting eagerness” to secure their supply.
When
looking to the export market, according to Steiner Consulting Group Australian
beef exports to the United States in 2024 increased by 61% on 2023 levels. The
increase in demand from the US has helped support prices in Australia
throughout 2024.
Initial yardings data for the first week of 2025 were at
42.4k head which when compared to the same week in 2024 was up 65% this was
mainly due to NSW and VIC sale yards which had large increases on same week in
2024, strong supply of weaners is expected as a consequence of good conditions
in the North and the herd rebuild.
Next week
As more participants return from a well earnt break over the festive period expect to see numbers increase as the market builds to seasonal norms. The momentum certainly wasn’t lost over the break, and if the forecasted rain eventuates expect to see continued demand from restockers.
Australian beef export volumes reached new highs in 2024 and are set to continue climbing in 2025. Our domestic beef herd reached maturation last year,
This spring-to-summer period has driven a significant improvement on the confidence front when we compare it to last year. With exports humming, capacity built and
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In this report for LiveCorp and MLA, we analysed the historical trends in the demographics of the Australian sheep flock, examining domestic factors that influence farm-level enterprise decision making.
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Back with a bang!
Next week
As more participants return from a well earnt break over the festive period expect to see numbers increase as the market builds to seasonal norms. The momentum certainly wasn’t lost over the break, and if the forecasted rain eventuates expect to see continued demand from restockers.
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Data sources: MLA, BOM, Mecardo
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This spring-to-summer period has driven a significant improvement on the confidence front when we compare it to last year. With exports humming, capacity built and
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Independent analysis and outlook for wool, livestock and grain markets delivered to you as it’s published
Listen to the podcast
Join the Mecardo team for the Commodity Conversations podcast, where we provide short weekly market recaps and longer conversations with guests to discuss the drivers and trends in livestock, grain and fibre markets.
Research: Analysis of the Australian sheep flock
In this report for LiveCorp and MLA, we analysed the historical trends in the demographics of the Australian sheep flock, examining domestic factors that influence farm-level enterprise decision making.
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We don’t just bring you the most up to date market insights. Find out more about Mecardo’s services including risk management advisory, modelling, benchmarking, research & consultancy.