Well here we are again, just when we thought the Eastern Young Cattle Indicator couldn’t go any higher, it’s jumped up by a 40 cents or 3.6% on last week, to a new record high of 1147¢/kg cwt. The EYCI is remarkably 45% higher than the same time last year.
Taking a look at the top saleyards contributing to the Eastern States Young Cattle Indicator (EYCI), again it was the Roma store sales contributing the most head of cattle (16%) and at the highest average price too, at 1262¢/kg cwt. Dalby and Wagga were the next highest contributors at 15 & 12% respectively and average cattle prices were 1193¢/kg cwt in Dalby and 1121¢/kg cwt in Wagga.
Over in the west, the Western Young Cattle Indicator (WYCI) fell 13 cents on last week and is now at 1143¢/kg cwt, with just over 1,200 head the total 7-day rolling average on offer there.
Looking at the National Indicators and they have all lifted on the week prior, bar the Medium Steer indicator which lost 17¢ and is now at 488¢/kg lwt. Restocker Yearling Steers ruled the market again, up 16¢ (2.2%) on last week to settle at 744¢/kg lwt. The Feeder & Processor Steers both lifted by 12¢ to finish this week at 574 & 544¢/kg lwt respectively. While the Vealer & Heavy Steers lifted both lifted by 1¢.
Supply continues to shrink as east coast yardings dropped by 32% for the week ending 3rd of December 2021, with just 28,118 head of cattle yarded, a 37% drop on this time last year, perhaps in part explaining the upward pressure on cattle prices lately.
Slaughter levels for the east coast were down 7% last week with 86,772 cattle were processed. For the same week in 2020 there were 115,048 head of cattle slaughtered, or 25% more, showing again how tight supply is at the moment.
The 90CL price in AUD terms keeps on climbing, on the back of a lift in the AUD up 2.1% on the week prior to 0.715US. The 90CL price jumped up 24¢ to 898¢/kg swt in AUD terms. It’s not the highest we’ve ever seen the the 90CL price. The high of 972.5¢/kg swt was hit at the end of November, 2019.
The week ahead….
This weeks yardings and slaughter figures may lift on last weeks but it’s hard to see any significant ramp up in supply and therefore any easing of pressure on cattle prices in the short term. With plenty of rain about and grass in the paddocks, restocker demand is strong, especially in the north , and if this continues it will continue to put pressure on prices in the near future.
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EYCI keeps on climbing up
Taking a look at the top saleyards contributing to the Eastern States Young Cattle Indicator (EYCI), again it was the Roma store sales contributing the most head of cattle (16%) and at the highest average price too, at 1262¢/kg cwt. Dalby and Wagga were the next highest contributors at 15 & 12% respectively and average cattle prices were 1193¢/kg cwt in Dalby and 1121¢/kg cwt in Wagga.
Over in the west, the Western Young Cattle Indicator (WYCI) fell 13 cents on last week and is now at 1143¢/kg cwt, with just over 1,200 head the total 7-day rolling average on offer there.
Looking at the National Indicators and they have all lifted on the week prior, bar the Medium Steer indicator which lost 17¢ and is now at 488¢/kg lwt. Restocker Yearling Steers ruled the market again, up 16¢ (2.2%) on last week to settle at 744¢/kg lwt. The Feeder & Processor Steers both lifted by 12¢ to finish this week at 574 & 544¢/kg lwt respectively. While the Vealer & Heavy Steers lifted both lifted by 1¢.
Supply continues to shrink as east coast yardings dropped by 32% for the week ending 3rd of December 2021, with just 28,118 head of cattle yarded, a 37% drop on this time last year, perhaps in part explaining the upward pressure on cattle prices lately.
Slaughter levels for the east coast were down 7% last week with 86,772 cattle were processed. For the same week in 2020 there were 115,048 head of cattle slaughtered, or 25% more, showing again how tight supply is at the moment.
The 90CL price in AUD terms keeps on climbing, on the back of a lift in the AUD up 2.1% on the week prior to 0.715US. The 90CL price jumped up 24¢ to 898¢/kg swt in AUD terms. It’s not the highest we’ve ever seen the the 90CL price. The high of 972.5¢/kg swt was hit at the end of November, 2019.
The week ahead….
This weeks yardings and slaughter figures may lift on last weeks but it’s hard to see any significant ramp up in supply and therefore any easing of pressure on cattle prices in the short term. With plenty of rain about and grass in the paddocks, restocker demand is strong, especially in the north , and if this continues it will continue to put pressure on prices in the near future.
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Click on graph to expand
Click on graph to expand
Click on graph to expand
Data sources: MLA, Mecardo, NRLS, BOM
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Idling for now
Modest improvements for heavier types and lower demand for lighter cattle prevailed this week as the trade begins to idle in the depths of winter.
US export price peaks again as their supply sinks
We’ve been expecting a significant increase in demand for beef from the US for some time now, with a herd rebuild period for the country
Supply is still high, but prices are steady
The cattle market experienced little movement in the past seven days, as a public holiday in some states saw yardings dip below the five-year average
Raining upside for young cattle?
It doesn’t rain grass, but with the long weekend, rain does offer some light at the end of the tunnel for southern livestock producers. With
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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.
MEET THE TEAM
Our team of market analysts are recognised as leaders in Australian Ag market analysis, providing invaluable insights to help you navigate the ever-changing commodity landscape.
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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.