Australia: Weekly cattle and sheep market wrap

Published 2023년 3월 10일

Tridge summary

The Eastern Young Cattle Indicator (EYCI) has dropped below 700¢/kg for the first time since March 2020, influenced by high prices, reduced demand, and increased offerings. Despite this, demand remains in the north with strong prices in Roma and Dalby. Cattle yardings have decreased due to wet conditions in some areas, but national supply is still 5% stronger than last year. Sheep yardings have also decreased after a high the previous week, with mutton indicator prices making a slight recovery. The Restocker Lamb Indicator has also eased due to an abundance of stock. Some markets did not operate this week due to low numbers or wet conditions.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

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 ...

Source: Mla