While more records were broken in the West, with the Western Young Cattle Indicator (WYCI) reaching another all-time high, the Eastern States steadied and even reversed last week’s price drops in some categories. Restocker buying is still strong in NSW, with Restocker Yearling Steers showing strong price increases. The Eastern Young Cattle Indicator (EYCI) reversed last week’s fall by jumping back up 14¢ to settle at 891¢/kg cwt.
Yardings for the week ending 30rd of April 2021, dropped by 8% from the week prior – 46,937 head were yarded on the east coast. It was 5% higher than this time last year.
Slaughter numbers for the week ending 30th of April, 2021, were also down 8% on the week prior. 93,933 cattle were slaughtered on the east coast. This is also a 30% drop compared to this time last year. The biggest drop came from Queensland which slaughtered 44,280 last week compared to 53,472 cattle the previous week. NSW on the other hand saw an 11% lift, up from 26,225 to 29,004 last week.
Slaughter numbers overall are well below the five-year average, not surprising considering the good conditions across most of the east coast are encouraging farmers to hold on to stock. Queensland, normally the biggest supplier, had slaughter numbers nearly 40% below the five-year average for that state last week. Low supply should continue to support prices to some degree.
On the west coast, the WYCI broke a new record, jumping nearly 60¢ from this time last week to settle at 1010¢/kg cwt, albeit only 822 head of cattle were sold. WA has received some solid rain recently (and it continues in some areas as we write), especially in the South West.
The national category indicators were mixed this week, with Restocker Steers reversing the trend of last week to post a 32¢/kg lwt lift to settle at 550¢/kg lwt. Heavy Steers also performed well lifting 20¢/kg lwt on this time last week to finish at 391¢/kg lwt. Medium Cow’s rose 1.5¢ on last week but the rest of the indicators fell between 0.5-3¢ cents. Restocker prices were boosted by NSW, which saw their Restocker Yearling Steer price jump 109¢/kg lwt on last week to settle at 585¢/kg lwt. The lift in the national Heavy Steer price, came mainly from Queensland which saw the states Heavy Steer price rise 40¢ on last week to finish this week at 394¢/kg lwt. Despite some falls, all categories are still well up on this time last year still, between 32 – 135 cents.
The Aussie dollar jumped up 0.8% to finish the week at 0.778USD, a 19% increase on this time last year. The 90CL frozen cow price fell by 5¢ AUD (-0.8%), to 697¢/kg AUD.
The week ahead….
The BOM is forecasting a relatively dry week next week for most of Eastern and Southern Australia, with only 0 – 10ml predicted for the next 8 days, except for parts of the Eastern coastline which might receive up to 25mm in some locations. The rain has certainly buoyed market confidence in WA, whether prices can hold at these record levels over there is another question.
The long-predicted slowdown in US beef production has seemingly come into play this year, and Australian beef is filling some of the production gaps. Total
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.
Plenty of confidence in the market still
Yardings for the week ending 30rd of April 2021, dropped by 8% from the week prior – 46,937 head were yarded on the east coast. It was 5% higher than this time last year.
Slaughter numbers for the week ending 30th of April, 2021, were also down 8% on the week prior. 93,933 cattle were slaughtered on the east coast. This is also a 30% drop compared to this time last year. The biggest drop came from Queensland which slaughtered 44,280 last week compared to 53,472 cattle the previous week. NSW on the other hand saw an 11% lift, up from 26,225 to 29,004 last week.
Slaughter numbers overall are well below the five-year average, not surprising considering the good conditions across most of the east coast are encouraging farmers to hold on to stock. Queensland, normally the biggest supplier, had slaughter numbers nearly 40% below the five-year average for that state last week. Low supply should continue to support prices to some degree.
On the west coast, the WYCI broke a new record, jumping nearly 60¢ from this time last week to settle at 1010¢/kg cwt, albeit only 822 head of cattle were sold. WA has received some solid rain recently (and it continues in some areas as we write), especially in the South West.
The national category indicators were mixed this week, with Restocker Steers reversing the trend of last week to post a 32¢/kg lwt lift to settle at 550¢/kg lwt. Heavy Steers also performed well lifting 20¢/kg lwt on this time last week to finish at 391¢/kg lwt. Medium Cow’s rose 1.5¢ on last week but the rest of the indicators fell between 0.5-3¢ cents. Restocker prices were boosted by NSW, which saw their Restocker Yearling Steer price jump 109¢/kg lwt on last week to settle at 585¢/kg lwt. The lift in the national Heavy Steer price, came mainly from Queensland which saw the states Heavy Steer price rise 40¢ on last week to finish this week at 394¢/kg lwt. Despite some falls, all categories are still well up on this time last year still, between 32 – 135 cents.
The Aussie dollar jumped up 0.8% to finish the week at 0.778USD, a 19% increase on this time last year. The 90CL frozen cow price fell by 5¢ AUD (-0.8%), to 697¢/kg AUD.
The week ahead….
The BOM is forecasting a relatively dry week next week for most of Eastern and Southern Australia, with only 0 – 10ml predicted for the next 8 days, except for parts of the Eastern coastline which might receive up to 25mm in some locations. The rain has certainly buoyed market confidence in WA, whether prices can hold at these record levels over there is another question.
Have any questions or comments?
Click on graph to expand
Click on graph to expand
Click on graph to expand
Data sources: MLA, Mecardo, BOM
Categories
Have any questions or comments?
Export buyers out of office
With the nation stopping yesterday to commemorate ANZAC Day, Thursday livestock sales did not take place. As a result, this week saw a decrease in
Cattle price volatility lower as supply and demand find balance
Cattle market volatility has waned recently. The wild swings of 2023 saw prices move up to 70% across the course of two months. Thus far
Weather whiplash creates erratic cattle market
Roads and paddocks have begun to dry out allowing the backlog of cattle from soaked areas of Queensland and New South Wales to hit the
US herd build provides a boost
The long-predicted slowdown in US beef production has seemingly come into play this year, and Australian beef is filling some of the production gaps. Total
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.