EYCI breaks 900¢ for first time in history

The Eastern Young Cattle Indicator has reached 901.75¢/kg carcase weight (cwt) amid a big offering on Wednesday 14 April, with 15,032 young cattle sold at saleyards. That is an increase of 10,000 head week-on-week. Producers sensing heightened demand post Easter break looked to capitalise, however, the large increases in supply were not able to place downward pressure on price.

Improvements in throughput came predominately from south-east Queensland, with Roma and Dalby contributing 3,094 and 2,250 head, respectively. In the south, Wagga and Dubbo contributed 1,846 and 1,088 head, respectively.

Price dominance strongly correlated with higher throughput, which helped the EYCI launch into the 900¢ realm. Saleyards in south-east Queensland, the Hunter Valley, central-west NSW and the Riverina all contributed to high prices and continue to perform highly.

The same story has continued in other areas too, with a host of store cattle indicators breaking new ground:

• Restocker Yearling Steer – 571¢/kg liveweight (lwt), up 165¢ on year-ago levels
• Vealer Steer – 526¢/kg lwt, up 130¢ on year-ago levels
• Feeder Yearling Steer – 472¢/kg lwt, up 85¢ on year-ago levels
• Trade Yearling Steer – 465¢/kg lwt, up 85¢ year-ago levels.

Rainfall across much of the supply area has invigorated confidence for producers looking to restock, and has combined with buyers looking to acquire as many cattle as possible to ensure production heading into winter. For the week ending April 14, feedlots and restockers purchased the majority of EYCI eligible cattle at 8,075 and 5,597 head, respectively. Processors doubled quantity bought week-on-week, acquiring 1,360 head.

© Meat & Livestock Australia Limited, 2021