MLA’s weekly cattle and sheep market wrap

Young cattle  

The Eastern Young Cattle Indicator (EYCI) has broken the 1,000¢/kg cwt mark again this week, after retreating into the 980¢/kg and 990¢/kg territory for the last three weeks. The result was achieved on the back of smaller yardings – this week there were only 11,000 cattle included in the EYCI.  

Feeders are now making up over 50% of buyers for EYCI cattle, at 54%. Restockers are making up a smaller % of EYCI purchases, however, they are still paying a premium of 80¢ over feedlotters and 150¢ over processors. Vealer steers are the most expensive EYCI category at 1,145¢/kg. 

Heavy and feeder steer prices are higher than week-ago levels. Increasingly these two indicators are providing a good lead of what the EYCI will do.  

Trade lambs 

In 2021, the Trade Lamb Indicator has not hit the highs reached in 2019 and 2020. On top of this, the winter peak is already subsiding, with trade lamb prices down 6% on the yearly peak of 917¢/kg reached two weeks ago.  

However, national trade lamb prices haven’t fallen as sharply as they did in for the same week in August  2019 and 2020. This demonstrates the strength in the lamb and sheep market this year, and that international demand is beginning to pick up as global COVID-19 recovery efforts continue.  

Australian Whites 

This year, there has been huge demand for Aussie Whites and Dorpers. This week, 40 Aussie Whites, scanned and in lamb, fetched $1,015/head on AuctionsPlus. These prices demonstrate the demand for Aussie Whites and productive females that will assist in the national flock rebuild.