Eastern States Young Cattle Indicator Reveals Market Resilience Amidst Volatile Trends
In the latest report dated 5th December 2023, the Eastern States Young Cattle Indicator (EYCI) presented a mixed picture of the Australian cattle market. The EYCI stands as a critical benchmark reflecting pricing and volume movements across major cattle saleyards in Australia.
Over the last day, the EYCI has seen a slight increase of 7.10 points, while the weekly change stood at an uplift of 26.36 points. However, this short-term gain contrasts with the month’s robust rise of 192.32 points, revealing a market that has been gaining momentum after a year characterised by a significant decline of 294.71 points.
The report’s saleyard data underscores Roma Store as the predominant contributor, with 5,091 head of cattle and an average price of 637.95 cents per kilogram carcass weight (c/kg cwt), accounting for 22.50% of the total market contribution. Wagga followed with 3,141 head at 541.30 c/kg cwt, contributing 13.88% to the market. Other notable saleyards include Dalby, CTLX Carcoar, and Gunnedah, each with contributions ranging between 7.11% and 11.57%.
The overall headcount for the period reached 22,623, with the average price across all saleyards marked at 574.99 c/kg cwt. A graphical representation of the market trends shows a precipitous decline in prices from January to May, followed by a gradual but volatile recovery leading up to the current reporting date.
Further analysis of the cattle categories reveals that yearling steers, with a headcount of 12,353, fetched an average price of 610.57 c/kg cwt, showing a weekly increase of 26.95 points. Yearling heifers stood at 8,627 head, averaging 530.96 c/kg cwt, with a slight weekly uptick of 27.02 points. Vealer steers and heifers, though a smaller segment of the market, showed significant weekly price movements, with vealer heifers, in particular, witnessing a rise of 36.65 points.
The market segmentation based on sale prefixes indicates feeders leading with 11,537 head at an average price of 557.73 c/kg cwt. Restockers and processors also held significant portions of the trade, with average prices of 618.35 and 494.30 c/kg cwt, respectively.
This comprehensive report from the National Livestock Reporting Service provides invaluable insights for stakeholders within the cattle industry, reflecting the dynamic nature of market pricing and the volume of trade across different categories and saleyards. The EYCI serves as a barometer for the health of the cattle market in Australia’s eastern states, guiding producers, investors, and analysts in their decision-making processes.
