The cattle market is all swings and roundabouts this week, with the EYCI lifting a little, and cattle destined for the slaughter market advancing, but restockers and feeders losing favour and falling back somewhat. A promising development has been the Aussie dollar tanking 3.3% to only 0.705 US.

East coast yarding’s retreated a substantial 17% from last week’s level, with the reductions occurring right across the states, lead by QLD, which dropped a sizable -23%, followed by NSW and VIC at -12% and -17% respectively.

Overall, yardings decreasing by a total of 7,378 (-17%) on last week saw 36,747 cattle yarded on the east coast for the week ending 18th September. This level is 40% below last year, and 25% under the 5 year average for this time of the year, but the dip in cattle coming to market in mid-September is hardly a shock, as we have seen this trend play out in most recent years.

Slaughter numbers came off 10% off from last week, shaving away all of the increases we saw building up over the last few weeks, with QLD and VIC driving the slide, with both losing 13%, and NSW also falling 3%.  

A Total of 100,208 cattle were processed, which is 11,691 head under last week, and 35% down compared to the same time in 2019.

The EYCI climbed a little, putting on 9c (1.3%) to settle at 775¢/Kg cwt, still at a level 59% above last year.

A mixed bag of results to report on the categories, with Vealers, Restockers and Feeders losing some ground, while Steers and Cows destined for processing made some modest gains.

Medium and Heavy steers built on their fortnight of steady progress, adding 5¢ (1%) and 7¢ (2%) respectively, to close the week at 369¢/kg lwt and 377¢/kg lwt, while medium cows gained 7¢ to close at 270¢/kg lwt, and processor steers lifted 6¢ to 404¢/kg lwt

Restocker steers fell down 15¢ (3%) to end at 435¢/kg lwt but feeders resisted the trend, only shedding 1¢ to settle at 400¢/kg lwt

Vealers displayed their normal volatility, giving back 1¢ of the gain seen last week to come to rest at 422¢/kg lwt

On the international front, the big news is that the Aussie dollar has slumped down a whopping 3.3% over the week, to settle at the pleasing level of 0.70¢ US, which should improve our competitive position for exports. The 90CL Frozen Cow price fell 6¢ (1%) back to 663¢/ kg.

The week ahead….

The rainfall forecast for the coming week is not particularly promising, as it looks like only Eastern Victoria will receive the best of the rain, and a very dry week ahead is in store for QLD in particular. This may lead to further reduced overall interest in restocking activity in the short term, but the overarching La Nina conditions over the medium term remain positive.  

Have any questions or comments?

We love to hear from you!

Click on graph to expand

Click on graph to expand

Click on graph to expand

Data sources: MLA, BOM, Mecardo

Make decisions with confidence- ask about our board packs, bespoke forecasting and risk management services

Have any questions or comments?

We love to hear from you!
Hereford cattle in pen at yards
Cattle

EYCI premium pushes on

After spending all of 2019 trading at a discount of at least 100¢/kg to the 90CL price, the Eastern States Young Cattle Indicator (EYCI) has

Read More »
Percentiles with a background image of hay bales
Cattle

Percentiles – October 2020

Mecardo’s Percentiles update for October 2020. Click below to view the latest report Grains  Oilseeds Sheep and lambs Cattle Wool Dairy Fuel Percentiles are an important

Read More »

Don’t have an account with us? Join free.

You can have full premium access to all of our content with a monthly or annual subscription. 

Alternatively, create a free account to access our Insights blog and two free premium article a month!

Independent analysis and outlook for wool, livestock and grain markets delivered to you as it’s published

Commodity conversations podcast cover image, a illustration of a sheep standing on a cow's back with grain either side
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 issues affecting the agricultural industry. 

WA sheep farmer looking at empty yards, photo by Chantel Mcalister
Research: Impact of the live sheep export moratorium

In this report for LiveCorp and MLA, we consulted with stakeholders in the sheep supply chain to identify the impact of the moratorium on the live sheep export trade.

Image of harvested grain pouring into a chaser bin
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.