Weekly cattle and sheep market wrap

Indicators

The Eastern Young Cattle Indicator (EYCI) is up 16% week-on-week on the back of premium prices in Roma. Prices in Roma jumped 23c/kg cwt week on week, driving the EYCI higher. This has been driven by recent rain events improving available pasture and encouraging restocker sentiments.

Medium cows reached a record high early in the week at 388c/kg lwt but softened towards the end of the week. High premiums of 85c/kg lwt on the national average are being paid in NSW. This is due to a high demand for restocker cows that would normally be sold on to processors putting pressure on prices. Dubbo saleyards offered the highest premium of 60c/kg lwt, having the largest contribution across the state.

The Western Young Cattle Indicator (WYCI) improved over the week ending at 1,133c/kg cwt a 15% increase week-on-week.

Sheep

Light lambs

Premium prices for light lambs are being paid, especially in NSW. Guyra is paying 205c/kg cwt over the national average. This is due to the high supply of heavy lambs, which is making light lambs by comparison less abundant.

Heavy lambs

Heavy lamb prices have fallen due to yardings rising 40%. This has flowed onto higher lamb slaughter – which is above 2020 and 2021 weekly slaughter volumes for the second consecutive week. High lamb slaughter volumes are expected to make up for lower processor throughput in January due to COVID-19.

Slaughter

Goat slaughter has continued to rise, hitting a new record of 36,610 head.

Slaughter numbers are back up this week as more processing plants come back online after the floods. Cattle slaughter has returned to pre-flood levels, jumping 16% week-on-week to reach 92,192 head.

Public holidays

Public holidays in WA, Victoria, SA and Tasmania may have affected the indicators slightly.