Strong confidence returned to the cattle markets this week, with buyers recognising opportunity in the market dynamics and driving increased demand, heightening competition for a tighter supply pool.

A good place to start when looking at the percentage of sales going to feeders, processors and restockers respectively is the Eastern Young Cattle Indicator (EYCI)

While the presence of both Foot and Mouth Disease (FMD) and Lumpy Skin Disease (LSD) in Indonesia have heightened concern in the Australian livestock industry, Managing Director for MLA, Jason Strong, says it’s important to consider perspective and a long-term view, when examining market drivers influencing the cattle market.

The Eastern Young Cattle Indicator (EYCI) continued to ease this week, softening 60¢ week-on-week. This brings the four-week price change to 126¢ in mid-June. The largest contributors to the indicator, Roma and Wagga Wagga, are contributing 29% collectively and are still trading at a premium on the national average. Restocker sales softened 12.6% and were overtaken by feeder sales contributing to the indicator. Read more on market drivers affecting the EYCI here.

The Eastern Young Cattle Indicator (EYCI) has eased 24¢ week-on-week to 954.14¢/kg cwt, with a majority of sales going to restockers. The percentage going to restockers has increased nearly 10% week-on-week with most of the sales coming out of Roma. Processors haven’t been extremely active, even though prices have dropped under 800¢/kg cwt.

The Eastern Young Cattle Indicator (EYCI) has softened a further 28c week-on-week, falling to below year-ago levels. This is off the back of Dalby sales, which traded at the national average price of 927.16c/kg cwt, easing 33c week-on-week. Dalby saw a strengthening in yardings of 2,277 head, with most sales going to restockers.

The Eastern Young Cattle Indicator (EYCI) eased 8.17¢ week-on-week after hitting 999.09¢/kg cwt on Tuesday on the back of Dalby, which traded at 959.16¢/kg cwt. This was the lowest price since September last year and was due to the easing in yardings by 800 head with stock coming from as far as South Australia. The EYCI bounced back on Wednesday with a strong sale at Roma and Wagga trading at 5¢ and 27¢ above the national average respectively.

The Eastern Young Cattle Indicator (EYCI) has eased 39c week-on-week to 1,013.57c/kg cwt. This is the lowest average price since September 2021 and is due to the mixed quality and variation in the drafts presenting at the saleyards, creating the two-tier pricing experienced over the last few weeks.

FY22 was a strong year for the red meat industry, with many records being broken. Here’s a look at the performance of the livestock markets over the last 12 months.

Australia’s benchmark cattle indicator, the Eastern Young Cattle Indicator (EYCI), is currently operating at 1,052¢/kg cwt – its lowest price since 18 October 2021. Since 10 June, the EYCI has fallen 6% or 68¢/kg cwt, while supply has lifted by 30% or 3,184 head.