Eastern States Young Cattle Indicator Report Reflects Mixed Market Movements
In the most recent update dated 14 November 2023, the Eastern Young Cattle Indicator (EYCI) portrays a mixed scenario in the livestock sector, marked by both short-term gains and long-term declines. The EYCI has observed an increase of 19.89 points since the previous day and a more notable rise of 45.69 points over the last week. However, a month-over-month comparison shows a dip of 76.78 points, and the year-over-year analysis indicates a significant reduction of 587.95 points, suggesting an overall downward trajectory in cattle prices.
Saleyard data within the report detail the contributions of each location to the EYCI. The Roma Store is at the forefront, contributing 26.24%, with Wagga contributing 16.02%, and Dalby 8.75%. These figures are reflected in the average prices, with the Roma Store at 463.39 c/kg cwt, Wagga at 390.17 c/kg cwt, and Dalby at 433.19 c/kg cwt.
The report counts a total of 13,093 head of cattle, segmented by category and sale prefix, offering a granular view of market conditions. The yearling steer category, with a headcount of 7,091, tops the average price chart at 464.41 c/kg cwt. Yearling heifers follow with 5,301 head and an average price of 381.93 c/kg cwt, while vealer steers and heifers show lower figures both in headcount and average price.
Feeders dominate the sale prefix segment with a headcount of 7,214 and an average price of 421.36 c/kg cwt. Restockers trail with 4,127 head and a higher average price of 462.54 c/kg cwt, and processors are at 1,752 head with an average price of 376.70 c/kg cwt. The price movement week-on-week has seen an upward trend across all segments, with restockers experiencing the most significant rise at 59.67 points, suggesting an uptick in market demand for this category.
The EYCI thus serves as a critical barometer for the cattle industry, reflecting the intricate and fluctuating nature of the market. Despite the positive short-term price movements, the considerable annual downturn underscores the enduring challenges faced in the Eastern cattle trade.
To see the full report at the MLA website.
