Australia: Weekly cattle and sheep market wrap

EYCI For the first time since March 2020, the Eastern Young Cattle Indicator (EYCI) fell below 700¢/kg carcase weight (cwt) to 699.99¢/kg cwt. Fatigue from some buyers after the sustained high prices of 2022, the easing of restocker sentiment in southern states and the increased offerings are contributing to downward pressure on prices. Demand in northern areas can still be found, with strong prices recorded in Roma and Dalby. Roma made the largest contribution to the indicator this week (22%), with the highest prices at the saleyards reaching 768.46¢/kg cwt. Ongoing restocker trends and projections can be read in this week’s article Restocker demand continues to soften. Cattle yardings Overall, cattle yardings have eased this week to 46,759 head. Queensland had the largest softening in yardings – 25% week-on-week for the state. Wetter conditions in some supply areas may have held back cattle from saleyards or finished conditions. National cattle yardings for February are still ...