The Eastern Young Cattle Indicator closed the week at 734c/kg carcase weight, which was an increase of about 49c/kg for the week, and its highest point for the year so far. Wagga Wagga was the standout sale for the EYCI, having 17% of the eligible stock and averaging well above the indicator at 780c/kg. Roma store was the largest contributor, with more than 20%, and also averaged higher at 754c/kg, while Dalby dragged the overall price lower, averaging less than 700c/kg and selling the second largest number of eligible stock.
After diving a fortnight ago, the dairy cow indicator picked up 45c/kg this week, while the processor cow price ended 24c/kg stronger to sit at 280c/kg liveweight. This is about 77c/kg stronger than a year ago, but still short of the highs experienced last month. Again, it was demand out of Wagga Wagga driving the price, with the highest number of sales and averaging 292c/kg.
Heavy steers picked up 3/ckg to sit at 347c/kg, but there were only 1100 head registered for that indicator this week. Feeder steers held fairly firm at 379c/kg, while restocker steers, which had the highest numbers of any national indicator this week, picked up 12c/kg to land at 403c/kg, despite an increase of 1800 head.
Cattle yardings fell to their lowest point since the first week of February (not counting the three-day week in April), with about 57,600 head being sold. The latest slaughter data shows last week’s throughput lifted ever so slightly to yet again be the highest figure for the year so far, sitting 10% above year-ago levels at just shy of 120,000 head.
Slaughter still sky high
Next week
It will be interesting to see if lower yardings this week equates to a drop in the slaughter numbers, and if there has been any change in turn-off sentiment for those that received welcome rain in the past week – as well as the impact on numbers of those that have suffered from unwelcome amounts that led to stock losses.
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Data sources: Mecardo; Meat and Livestock Australia
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