The farmers friend - La Niña has reached an end this week with the Bureau of Meteorology shifting their climate outlook models to “watch” status. While this won’t change anything over night, or at least not in a big way until the next northern monsoon season, there has certainly been a change in the air for the cattle market.
Prices continued to decline across states and markets this week. The fall of the Eastern Young Cattle Indicator continued, dropping 34¢ (-3%) to land at 1053¢/kg cwt. In the last 4 weeks the EYCI has lost 61¢, but still remains well above the same time last year. The number of EYCI eligible cattle at saleyards was slightly higher than the week prior, with this level of supply clearly testing the market. Turning West, the direction of the young cattle market met the same fate – downwards. The Western Young Cattle Indicator lost 80¢ over the week, settling at 1027¢/kg cwt.
The weaker market was consistent across all National categories of cattle. Stronger demand for processor steers last week was met with a correction of 34¢ this week. The National Feeder Steer Indicator slipped back 19¢ to 527¢/kg lwt and medium cows dropped just 9¢ over the week.
Saleyard throughput data for last week indicates that a jump in Queensland cattle yardings has been one of the drivers of the softer market. Over 20,000 head were yarded last week which was a 79% jump on the week prior and 18% higher than the five year seasonal average. National yardings were 15% higher on the week prior and 31% higher than the same time last year. However, saleyard reports this week suggest that lighter throughput still saw prices ease.
While there was plenty of activity in yards last week, processors were running below recent levels. East coast cattle slaughter totalled just 78,610 head last week, 17% below the week prior and also 17% below the same week last year.
The US frozen cow 90CL price held fairly stable at 277¢US/lb as supply remains limited. In Aussie dollar terms it gained 19¢ closing the week ending the 17th June at 878¢/kg swt.
The week ahead….
A bit of shine has come off the cattle market but with many regions holding enough pasture to warrant rebuilding efforts, there should be enough support to prevent significant downside.
Much like many paddocks across Australia after recent rains, the national cattle indicators are a sea of green. All categories rose from the previous week
Prices tracked sideways as the trade waits in anticipation of some rainfall to reach the dry southern cattle regions. Indicative NLRS yardings early Friday has
Final quarter livestock slaughter and production data is now available for 2025, offering insight to the October to December period, and the annual figures. The
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Our team of market analysts are recognised as leaders in Australian Ag market analysis, providing invaluable insights to help you navigate the ever-changing commodity landscape.
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Watch out – change is in the air
Prices continued to decline across states and markets this week. The fall of the Eastern Young Cattle Indicator continued, dropping 34¢ (-3%) to land at 1053¢/kg cwt. In the last 4 weeks the EYCI has lost 61¢, but still remains well above the same time last year. The number of EYCI eligible cattle at saleyards was slightly higher than the week prior, with this level of supply clearly testing the market. Turning West, the direction of the young cattle market met the same fate – downwards. The Western Young Cattle Indicator lost 80¢ over the week, settling at 1027¢/kg cwt.
The weaker market was consistent across all National categories of cattle. Stronger demand for processor steers last week was met with a correction of 34¢ this week. The National Feeder Steer Indicator slipped back 19¢ to 527¢/kg lwt and medium cows dropped just 9¢ over the week.
Saleyard throughput data for last week indicates that a jump in Queensland cattle yardings has been one of the drivers of the softer market. Over 20,000 head were yarded last week which was a 79% jump on the week prior and 18% higher than the five year seasonal average. National yardings were 15% higher on the week prior and 31% higher than the same time last year. However, saleyard reports this week suggest that lighter throughput still saw prices ease.
While there was plenty of activity in yards last week, processors were running below recent levels. East coast cattle slaughter totalled just 78,610 head last week, 17% below the week prior and also 17% below the same week last year.
The US frozen cow 90CL price held fairly stable at 277¢US/lb as supply remains limited. In Aussie dollar terms it gained 19¢ closing the week ending the 17th June at 878¢/kg swt.
The week ahead….
A bit of shine has come off the cattle market but with many regions holding enough pasture to warrant rebuilding efforts, there should be enough support to prevent significant downside.
Have any questions or comments?
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Data sources: MLA, Mecardo
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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.
MEET THE TEAM
Our team of market analysts are recognised as leaders in Australian Ag market analysis, providing invaluable insights to help you navigate the ever-changing commodity landscape.
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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.