In the latest report dated January 9, 2024, the Eastern States Young Cattle Indicator (EYCI) presents key data on cattle pricing and volume, offering insights into the Australian cattle market. The report synthesizes figures from major saleyards, which serve as a benchmark for industry pricing and market volume nationwide.
The EYCI stands at 594.85, with a head count of 5,210, indicating the current average price and volume of young cattle traded. This figure is a pivotal reference for stakeholders in the agriculture sector.
A closer look at the day-to-day operations of the saleyards reveals Roma Store leading with a notable head count of 2,124 and an average price of 659.47 cents per kilogram carcase weight (c/kg cwt), contributing 40.77% to the EYCI. Wagga follows with 1,095 head and an average price of 541.31 c/kg cwt, while IRLX Inverell, CTLX Carcoar, and other saleyards also make significant contributions.
The report also categorises cattle into various types, with ‘Yearling Steer’ and ‘Yearling Heifer’ being the most prominent, totalling head counts of 2,794 and 2,104, respectively. ‘Vealer Heifer’ and ‘Vealer Steer’ follow but with lesser counts. The average prices of these categories offer a granular perspective on the market, with ‘Feeder’, ‘Restocker’, and ‘Processor’ as sale prefixes giving further insight into the purpose of the cattle sales.
Over a one-year period, the EYCI has seen a decline of 204.76 points, suggesting a longer-term trend that stakeholders must analyze. However, over the last month, there has been a recovery of 44.99 points, hinting at a potential upswing in market conditions.
The report’s graphical representation underscores the market’s dynamics over the past year, with the price line chart reflecting fluctuations that provide an at-a-glance understanding of market behaviour.
In summary, the Eastern States Young Cattle Indicator offers an essential snapshot of the cattle industry in Australia, encapsulating the complexities of the market with clear, concise data. This report is an indispensable tool for decision-making for farmers, traders, and analysts alike.
