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.
Restockers rule – strong demand continues
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.
Have any questions or comments?
Click on graph to expand
Click on graph to expand
Click on graph to expand
Data sources: MLA, NLRS, Mecardo
Categories
Have any questions or comments?
Slower start to the year
The saleyards have opened the year slightly softer overall, although demand is still very strong and all indicators are still historically very high. The story
Quantifying Omicron Impacts
It seems like this is the hundredth article we’ve written on Covid-19 impacts on livestock slaughter, but here we are again. This time it’s not
Cattle market maintains momentum
Tomorrow will bring the opening Eastern Young Cattle Indicator (EYCI) for the year, and if weaner sales so far in 2022 are anything to go
Weaners vs Landcrusiers
There was a fair bit of excitement in the lead up to the southern weaner sales last year, as the Western Victorian and South East
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
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.