Young cattle prices mustered up some more strength from another week of subdued supply to post yet another record. And what a record it was!
The Eastern Young Cattle Indicator smashed past last week’s record price, adding another 30 cents to close the week at 871¢/kg cwt. This was 59% (323¢) higher than the price was 12 months ago.
Not all categories rode the market higher with young cattle. There was no relief on the pressure of Heavy steers, as they trekked sideways at 375¢/kg lwt. Yearling steers ended the week slightly lower. There was no question of who was driving the young cattle price up, with Restocker steers gaining 44¢ on the week to finish at 556¢/kg LWT. Feeder and medium steers also had healthy rises of 9¢ and 17¢ respectively, with most of the push coming from NSW.
The supply numbers for the week ending the 15th of January, give a good reason for the market strength. While there was a week on week rise in slaughter and yardings, it was still coming off the extremely low base of post-holiday levels. However, with just 17874 cattle yarded on the east coast last week, figures this low are usually only reserved for the first week of the New Year. Total east coast yardings were 65% below the five-year average for this time in the year. South Australia was the only state that filled yards to a level that could be considered ‘normal’.
The diversion from the norm also showed up in the slaughter figures, although not to the same extreme, which explains why slaughter cattle prices didn’t gain as much ground this week. The number of cattle processed lifted 29% on the week but were still 28% below the five-year seasonal average.
Overseas and the 90CL frozen cow price remains firm at 619¢/kg swt in AUD terms. Steiner reported that while Australian supply is limited, it has been steady out of New Zealand.
The week ahead….
While the rainfall forecast for the week ahead, isn’t tipping much above average, February is currently looking very wet if you put your faith in the BOM. Despite this, supply will have to ramp up from here, which is likely to see young cattle prices ease from the current extremes.
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
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.
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.
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.
Prices out of sight but top of mind
The Eastern Young Cattle Indicator smashed past last week’s record price, adding another 30 cents to close the week at 871¢/kg cwt. This was 59% (323¢) higher than the price was 12 months ago.
Not all categories rode the market higher with young cattle. There was no relief on the pressure of Heavy steers, as they trekked sideways at 375¢/kg lwt. Yearling steers ended the week slightly lower. There was no question of who was driving the young cattle price up, with Restocker steers gaining 44¢ on the week to finish at 556¢/kg LWT. Feeder and medium steers also had healthy rises of 9¢ and 17¢ respectively, with most of the push coming from NSW.
The supply numbers for the week ending the 15th of January, give a good reason for the market strength. While there was a week on week rise in slaughter and yardings, it was still coming off the extremely low base of post-holiday levels. However, with just 17874 cattle yarded on the east coast last week, figures this low are usually only reserved for the first week of the New Year. Total east coast yardings were 65% below the five-year average for this time in the year. South Australia was the only state that filled yards to a level that could be considered ‘normal’.
The diversion from the norm also showed up in the slaughter figures, although not to the same extreme, which explains why slaughter cattle prices didn’t gain as much ground this week. The number of cattle processed lifted 29% on the week but were still 28% below the five-year seasonal average.
Overseas and the 90CL frozen cow price remains firm at 619¢/kg swt in AUD terms. Steiner reported that while Australian supply is limited, it has been steady out of New Zealand.
The week ahead….
While the rainfall forecast for the week ahead, isn’t tipping much above average, February is currently looking very wet if you put your faith in the BOM. Despite this, supply will have to ramp up from here, which is likely to see young cattle prices ease from the current extremes.
Have any questions or comments?
Click on graph to expand
Click on graph to expand
Click on graph to expand
Data sources: MLA, Steiner, Mecardo, BOM
Categories
Have any questions or comments?
Record exports buoyed by big US appetite
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,
Back with a bang!
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
Bold upside prediction? – not here sorry
It’s that time of year when the bold predictions for 2025 are released. You can find them for everything from Bitcoin to who wins the
90CL beef cracks AUD $10/kg
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
Want market insights delivered straight to your inbox?
Sign up to the mailing list to get regular updates to new analysis and market outlooks
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.
SERVICES AND CAPABILITIES STATEMENT BROCHURE
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.