The Australian cattle market has presented a dynamic landscape as reflected in the latest Eastern States Young Cattle Indicator (EYCI) report dated December 12, 2023. The EYCI, a key benchmark for cattle pricing, is showing a mix of trends across various saleyards and cattle categories.
The report highlights a drop in the average price for young cattle to 549.86 cents per kilogram carcase weight (c/kg cwt), a notable change from previous figures. The total headcount for the period stands at 26,172, indicating the volume of cattle trade within the industry.
Contributions to the EYCI come from several major saleyards, with Roma Store leading at a headcount of 5,561, averaging 585.78 c/kg cwt, contributing 21.25% to the indicator. It is followed by Dalby, Dubbo, and Wagga, with significant figures, though none surpass Roma’s leading position.
There has been a notable change in average prices over different time frames, with a decrease of 18.87 c/kg cwt in one day and 25.13 c/kg cwt over the past week, contrasting with an increase of 121.49 c/kg cwt over the past month. However, the yearly overview shows a decline of 329.42 c/kg cwt, indicating a longer-term downward trend.
In terms of cattle categories, ‘Yearling Steer’ leads with a headcount of 14,199 at an average price of 586.80 c/kg cwt, though it has experienced a price drop of 23.78 c/kg cwt week-on-week (WoW). ‘Yearling Heifer’ follows with 10,506 head, averaging at 503.10 c/kg cwt and a decrease of 27.86 c/kg cwt WoW. The ‘Vealer Steer’ category, although the smallest in headcount, showed an increase of 27.06 c/kg cwt WoW, a positive sign amidst the general downward price pressure.
The sales prefixes ‘Feeder’, ‘Restocker’, and ‘Processor’ reveal distinct trends. ‘Feeder’ cattle saw the highest headcount at 15,005, with an average price of 548.56 c/kg cwt and a minor decrease in price WoW. ‘Restocker’ cattle, with a headcount of 8,933, faced a significant WoW price drop of 46.97 c/kg cwt. Meanwhile, ‘Processor’ cattle showed a headcount of 2,234 at an average price of 472.50 c/kg cwt, marking a WoW decrease of 21.81 c/kg cwt.
This report serves as a critical instrument for stakeholders in the cattle market, providing insights into current trends and enabling informed decision-making. The varying price movements across different categories and sale prefixes reflect the complexities of the market, influenced by factors such as supply and demand, feed costs, and broader economic conditions.
In conclusion, the current EYCI report underscores a period of adjustment within the cattle market, with significant price fluctuations that will interest producers, investors, and analysts looking to navigate the evolving agricultural landscape.
