Australia: Weekly cattle and sheep market wrap

Updated Mar 11, 2023
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.
EYCI 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 stronger year-on-year by 5% with supply increasing nationally. Processor cow offerings increased this week with 329 head more through the indicator week-on-week with prices softening 8¢. Roma traded just under the national average at 264.27¢/kg live weight (lwt) and Mount Gambier had the largest premium on the national average as prices held firm at the saleyard. Sheep and lamb yardings Sheep yardings strengthened, ...
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