Saleyard indicators surge

Young cattle and lamb prices throughout the eastern states saleyards continued to rise in the final week of June – the result of good rainfall across many regions and an improved seasonal outlook.

The Eastern Young Cattle Indicator (EYCI) finished Tuesday at a new record high of 655.75¢/kg cwt. After last week’s rain induced smaller yarding, consignments at Roma Store more than doubled to 5,140 head, but strong competition, aided by interstate online buyers for the first time, pushed light weight steers and heifers 4-12¢/kg lwt and 10-20¢/kg lwt dearer, respectively.

Young cattle at most other eastern state centres also trended dearer, with EYCI eligible cattle at IRLX Inverell (up 53¢/kg cwt week-on-week, to average 672¢/kg cwt) and Warwick (up 47¢/kg cwt, to 643¢/kg cwt) the stand-outs of Tuesday’s markets. However Gunnedah was the notable exception, with EYCI eligible cattle easing 10¢/kg cwt after last week’s extremely strong gains, to average 666¢/kg cwt.

Saleyard lamb prices have been reminiscent of the highs reached in 2011, with the eastern states trade lamb indicator increasing 37¢/kg cwt over the past week, to finish Tuesday at 647¢/kg cwt. Competition was particularly strong at Bendigo yesterday, with most trade lambs improving $5-$15/head, while at Corowa competition on similar lines pushed prices $6-$9/head dearer. Dubbo was also dearer while Forbes was mostly firm. Tight supplies and strong trade and processor competition also resulted in solid gains at SA Livestock Exchange today.

The eastern states mutton indicator was also strong at the end of Tuesday’s markets, finishing at 413¢/kg cwt, up 12¢/kg cwt week-on-week.

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