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 (17%) and at the highest average price too, at 1192¢/kg cwt. Dubbo and Wagga were the next highest contributors at 13 & 11% respectively and average cattle prices were 1082¢/kg cwt in Dubbo and 1101¢/kg cwt in Wagga.
The EYCI is still over the 1,100¢ mark, finishing the week at 1,107¢/kg cwt. Over in the west, the Western Young Cattle Indicator (WYCI) is at 1143¢/kg cwt, with less than 1,500 head the total 7-day rolling average on offer there.
Looking at the National Indicators it was the Restocker Yearling Steers ruling the market again, up 17 cents (2.9%) on the week prior to settle at 728¢/kg lwt. The Medium Steer indicator also rose by 3%, up 15 cents on the week prior, to finish at 505¢/kg lwt. The Feeder & Heavy Steer indicators both lifted by 2% to finish at 562¢/kg lwt and 470¢/kg lwt respectively.
Meanwhile, Processor Yearling Steers fell 8 cents to 532¢/kg lwt and the Vealer Steer dropped by 6 cents to 633¢/kg lwt.
With grass fever running high and not looking like slowing down in the near to medium term, low yardings & slaughter levels continue to be the norm – keeping upward pressure on prices. Cattle yardings were up 6% for the week ending 26th of November on the week prior, with 41,136 head yarded. This is still 34% below this time last year and 20,000 head below the 5 year average for the same week .
Slaughter levels were also slightly up last week(<1%), with 93,068 head of cattle sent for processing. Again like yardings, they are well down on last year and the 5 year average. This time last year there was just shy of 110,000 cattle processed and the 5 year average for the same week is 132,000 head of cattle.
The 90CL price is continuing to climb, on the back of big lift in the AUD up 3% on the week prior to 0.737US. The 90CL price increased 10 cents to 874¢/kg swt in AUD terms.
The week ahead….
With only a few more weeks to Christmas and subsequent slowdown in yardings and processing, and plenty of green grass about, it’s hard to see a big uptake in cattle numbers heading to the saleyards or for processing. We can expect prices to remain firm as demand looks to remain strong locally and also internationally.