The Eastern States Young Cattle Indicator (EYCI) report, dated 21st November 2023, presents a comprehensive overview of the current cattle market trends. The EYCI, a significant benchmark for the cattle industry, stands at 472.25 cents per kilogram carcase weight (c/kg cwt), with a headcount totalling 10,891 across contributing saleyards.
Over the past day, the EYCI has seen an increase of 21.89 points, and a substantial hike over the week at 43.89 points. However, this upward trend is juxtaposed with a significant one-month increase of 121.19 points, contrasted starkly by a year-on-year decline of 504.74 points, indicative of a volatile market influenced by various factors over the extended period.
The data reveals that the Dalby saleyard has made the largest contribution to the EYCI, with 2,193 heads of cattle at an average price of 492.62 c/kg cwt, amounting to a 20.14% contribution. Wagga saleyard follows closely, contributing 18.80% with 2,048 heads of cattle. The report further details contributions from other major saleyards such as Roma Store, Dubbo, and CTLX Carcoar, amongst others, each playing a significant role in the market indicator.
In terms of category specifics, ‘Yearling Steer’ leads with a headcount of 5,985 and an average price of 498.26 c/kg cwt. ‘Yearling Heifer’ and ‘Vealer Steer’ follow, with the former seeing a substantial week-over-week price increase of 48.89 points. The ‘Feeder’ sale prefix category shows a robust figure with 5,796 heads at an average price of 456.90 c/kg cwt, while ‘Restocker’ and ‘Processor’ categories also show significant activity in the market.
The report underscores the current dynamics of the cattle market, reflecting a mix of stable and fluctuating prices across different categories and saleyards. This information is vital for stakeholders in the agricultural sector, including farmers, investors, and analysts, to make informed decisions in a market that is crucial to the economy and the country’s food supply chain.
See the full report here
