The week started with a record number of cattle yarded at Wagga Wagga, with 8731 put through the ring on Monday. This followed on from the third-largest AuctionsPlus cattle offering on record last Friday, and the Wagga yards are again full today with store cattle going under the hammer. So, it comes as little surprise that with the turnoff headed up, the market headed down this week.
Total cattle yardings recorded so far by the National Livestock Reporting Service for the Week are just above 80,000 head, which is actually a decline on last week, and more than 10,000 less than the peak figure for the year set in January. Slaughter rebounded strongly last week after a long weekend, to about 144,000 head. The male kill was back above the female kill for the week, and total slaughter was about 30% above the five-year average.
Roma store again had the highest Eastern Young Cattle Indicator eligible throughput, with 20% of the cattle. However, they still demanded a significant premium over the EYCI average, which ended the week at 688c/kg, a drop of nearly 30c/kg for the week. Roma averaged 717c/kg for young cattle, and even Wagga, the next largest contributor, returned above average at 702c/kg. Dalby and Dubbo were the next highest contributors, and they both came in below the average. Historically, the EYCI is still above year-ago levels, but sits about 13% lower than the five-year-average.
Feeder steers fared the best this week, only losing 10c/kg to finish at 375c/kg, while heavy steers lost more than 20c/kg, to close the week at 339c/kg, and while it still remains above the same time in 2024, it is not the indicator trading at the smallest premium to year-ago levels, being on 32c/kg higher. Restocker steers took the biggest hit, despite 1800 fewer animals being counted, losing nearly 28c/kg. However, it now sits just 15c/kg lower than a month ago, compared to heavy steers which are 30c/kg lower.
The biggest increase in numbers was for processor cows, with plenty of producers in the south no longer able to wait for the autumn break, which has so far eluded many. The indicator reported nearly 2500 head more for the week and, given the fall in the remainder of the market, held up fairly well, dropping 22c/kg to land at 264c/kg.
The week ahead….
With no significant change in the weather forecast for the coming week, it is unlikely that even a market headed in the wrong direction will see much change in throughput, with producers likely selling more through necessity than selection. Luckily, those in the north are starting to look for stock now that some of their water has subsided, which is likely putting the brakes on too much downward pressure.
Winter is right around the corner, and historically, we start to see an increase in weekly cattle slaughter figures from here on out. Domestic seasonal
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Market loses ground as autumn break still missing
Total cattle yardings recorded so far by the National Livestock Reporting Service for the Week are just above 80,000 head, which is actually a decline on last week, and more than 10,000 less than the peak figure for the year set in January. Slaughter rebounded strongly last week after a long weekend, to about 144,000 head. The male kill was back above the female kill for the week, and total slaughter was about 30% above the five-year average.
Roma store again had the highest Eastern Young Cattle Indicator eligible throughput, with 20% of the cattle. However, they still demanded a significant premium over the EYCI average, which ended the week at 688c/kg, a drop of nearly 30c/kg for the week. Roma averaged 717c/kg for young cattle, and even Wagga, the next largest contributor, returned above average at 702c/kg. Dalby and Dubbo were the next highest contributors, and they both came in below the average. Historically, the EYCI is still above year-ago levels, but sits about 13% lower than the five-year-average.
Feeder steers fared the best this week, only losing 10c/kg to finish at 375c/kg, while heavy steers lost more than 20c/kg, to close the week at 339c/kg, and while it still remains above the same time in 2024, it is not the indicator trading at the smallest premium to year-ago levels, being on 32c/kg higher. Restocker steers took the biggest hit, despite 1800 fewer animals being counted, losing nearly 28c/kg. However, it now sits just 15c/kg lower than a month ago, compared to heavy steers which are 30c/kg lower.
The biggest increase in numbers was for processor cows, with plenty of producers in the south no longer able to wait for the autumn break, which has so far eluded many. The indicator reported nearly 2500 head more for the week and, given the fall in the remainder of the market, held up fairly well, dropping 22c/kg to land at 264c/kg.
The week ahead….
With no significant change in the weather forecast for the coming week, it is unlikely that even a market headed in the wrong direction will see much change in throughput, with producers likely selling more through necessity than selection. Luckily, those in the north are starting to look for stock now that some of their water has subsided, which is likely putting the brakes on too much downward pressure.
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Data sources: MLA, steiner, Mecardo
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Have any questions or comments?
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Winter is right around the corner, and historically, we start to see an increase in weekly cattle slaughter figures from here on out. Domestic seasonal
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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.