In a detailed analysis of the current young cattle market, the Eastern States Young Cattle Indicator (ESYCI) presents a mixed bag of results as of the 16th of January, 2024. The ESYCI, a critical barometer for the industry, recorded a moderate day-on-day increase of 12.90 points, yet the year-on-year figures suggest a significant decline of 159.13 points, settling at 608.77.
Roma Store emerged as the leading contributor, with a headcount of 4,428 and an average price of 658.37 cents per kilogram carcase weight (c/kg cwt), accounting for a substantial 30.19% of the market’s volume. Notably, Wagga followed with 2,138 cattle averaging 594.47 c/kg cwt, while Dubbo rounded out the top three with 1,137 head at 589.53 c/kg cwt.
The week-on-week (WoW) pricing indicates an upward trend for yearling heifers, showing a notable increase of 35.52 cents, contrasting with yearling steers, which saw a smaller increment of 5.35 cents. This suggests a shifting dynamic in buyer preferences or potentially a response to variations in supply.
Examining the sale prefixes, feeders dominated the transactions with 7,732 head averaging 596.78 c/kg cwt, displaying a week-on-week price rise of 22.67 cents. Restockers, though trailing, also showed activity with 5,014 head at an average price of 649.51 c/kg cwt. Processors procured fewer numbers, with 1,921 head at 550.67 c/kg cwt, marking a significant WoW price jump of 32.13 cents.
This report underscores the fluidity of the cattle market, reflecting a landscape where regional saleyards like Roma Store play a pivotal role. As prices fluctuate and trends evolve, the data presents a narrative of resilience and adaptability within the Australian livestock industry.
In summary, while the ESYCI experienced a downtrend over the past year, recent movements indicate slight recoveries, with varying performances across categories and sale prefixes. This nuanced view helps stakeholders make informed decisions in a market that remains as dynamic as ever.
