Weekly market wrap
01 July 2021
Key points:
- Eastern Young Cattle Indicator (EYCI) reached a new record of 941.50¢/kg.
- Lamb prices increased as throughput fell, reflecting historic seasonal trends for winter
- Over-the-hooks prices remain high
Young cattle
The EYCI has once again broken a record, achieving 941.50¢/kg cwt on Wednesday 30 June, 10¢ higher week-on-week. EYCI cattle throughput experienced a 24% decline since the previous week with 9,410 yarded, largely contributing to the record high.
Looking ahead, good rainfall is predicted across most of eastern and southern Queensland, along with northern NSW in the coming days, which could add fuel to the already record-breaking market. The Bureau of Meteorology (BOM) is predicting upwards of 25mm across key cattle regions in Queensland, where a large proportion of Australia’s cattle herd sits.
Over-the-hooks
Over-the-hooks quotes for most categories have continued their upward surge into record territory since May, highlighting there is still life in heavy cattle prices. National heavy steer and cow quotes achieved 695¢ and 587¢, up 78¢ and 57¢ year-on-year, respectively.
Lamb prices
Historically, there is a spike in light, heavy and trade lamb prices in winter as supply tightens. On a national basis, this week, all three of these categories lifted. The price rises were:
- light lambs: up 2.3% to 818¢/kg cwt
- heavy lambs: up 4.4% to 830¢/kg cwt
- trade lambs: up 3% to 843¢/kg cwt.
© Meat & Livestock Australia Limited, 2021
