Stanley Vale Merino Stud - News & Views

Weekly cattle and sheep market wrap

Cattle

The Eastern Young Cattle Indicator (EYCI) had a relatively stable week after significant softening from pre-Christmas prices to 781.39¢/kg carcase weight (cwt). The Western Young Cattle Indicator (WYCI) currently sits at a premium in comparison to the EYCI at 857.25¢/kg cwt.

Cattle yardings had reduced numbers this week with 22,700 head reaching the saleyards. Roma yardings have softened 500 head week-on-week to 3,300. However, demand and prices for heavier steers and heifers remains strong at the saleyard. Heavy grown steer and bullock prices held firm at the Dalby saleyards with an increase of its yardings by 915 head with buyers willing to pay premiums for better quality stock.

Dubbo saleyards held 36% of all sales and were the largest contributor to the Heavy Steer Indicator. However, prices at the saleyard have softened, placing pricing pressure on the indicator.

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Weekly cattle and sheep market wrap

New indicator: Restocker Yearling Heifer

Today, MLA’s Market Information team released the Restocker Yearling Heifer Indicator, the first release in a number of new and improved indicators which are the result of a wide-ranging indicator review process.

The Restocker Yearling Heifer Indicator includes yearling heifers bought by restockers weighing 200-400kg including all fat and muscle scores. Users of the indicator will be able to filter for weights, fat and muscle scores on a state and regional level, ensuring more tailored and specific pricing information can be utilised to inform business buy and sell decisions.

To view the Restocker Yearling Heifer Indicator, click here.

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Weekly cattle and sheep market wrap

Cattle and sheep supply is expected to continue increasing until the end of the year as the herd and flock rebuilds move into summer.

Cattle

Overall cattle yardings increased by 35%, with a 35% and 40% lift in NSW and Queensland respectively. A 45% increase in heifer numbers saw a softening in average prices by $54.45 per head. A combination of increased supply and greater weights through the saleyards reduced pricing pressures.

Dubbo yardings increased by 3,234 head or 200% week-on-week after reduced yardings last week. Quality also improved, ensuring strong demand from feeders and processors at the saleyard.

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Weekly sheep and cattle market wrap

Indicators

The national public holiday on Thursday and the Victorian public holiday on Friday put a hold on some key markets this week. As yardings ease and throughput for indicators is reduced, the market will strengthen.

EYCI and WCI

Numbers in Roma rose this week by 4,091 head with good quality stock presenting at the yards. This week, Roma contributed 35% to the Eastern Young Cattle Indicator (EYCI) and traded 12¢ above the national average. Feeders and restockers in the EYCI are taking out 46% and 48% respectively with feeders paying under $10 kg cwt.

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Weekly cattle, sheep and goat market wrap

Cattle market

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.

The benchmark Eastern Young Cattle Indicator (EYCI) recovered some of its recent losses and rose by 31¢ or 3.4% to 918¢/kg cwt this week. Smaller yardings in north-east NSW at Tamworth and Gunnedah, as well as Carcoar in the Central Tablelands, saw prices lift strongly across most categories.

Increased restocker activity has driven heightened demand, with confidence evidently returning in the market as rains fell across supply regions and buyers recognised the opportunities available.

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Weekly cattle, sheep and goat market wrap

EYCI easing

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.

Good quality cattle are fetching a strong price whereas some of the plainer types are going for a heavy discount. The wet and wintery conditions from the last few months have not been aiding the quality and finish on the cattle passing through the saleyards.

Restockers and processors can be pickier around quality and what cattle they bid for as supply increases, putting downward pressure on prices with processors bringing their grids back.

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Weekly sheep and cattle market wrap

Indicators

The Eastern Young Cattle Indicator (EYCI) has strengthened 14¢ week-on-week on the back of a strong Roma sale, which contributed 13.4% of reporting head. The number of head reporting on the EYCI has improved this week to reach nearly 9,500, increasing the stability of the indicator.

The Western Young Cattle Indicator (WYCI) has remained relatively stable over the last few weeks, currently sitting at 1,092.89¢/kg cwt with yardings softening in Mount Barker.

Charters Towers

This week, Charters Towers contributed 55.4% of the 1,141 head of medium cows in the indicator, trading at a 4.3¢ premium on the national average of 360.31¢/kg lwt. This pushed up the indicator by 15¢ week-on-week along with some other premiums found in Roma and Shepparton.

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Weekly sheep and cattle market wrap

Indicators

The Western Young Cattle Indicator (WYCI) has reached a record high this week at 1,202.34c/kg cwt. This is up 227.56c year-on-year, with the surge being driven by restocker demand in the market.  Restockers took out 56.57% of sales followed by 43.28% from feeder buyers. 

Over in the east, the Eastern Young Cattle Indicator (EYCI) has softened 8.74c/kg cwt week-on-week at 1,086.81c/kg cwt. The number of head sold to lot feeders has risen by 10% week-on-week, taking out 52.38% of the sales.

Feeder cattle

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New South Wales top MSA producers announced

New South Wales beef producers who consistently deliver beef of superior eating quality were recognised last night at the 2022 Meat Standards Australia (MSA) Excellence in Eating Quality Awards in Armidale.

Hosted by Meat & Livestock Australia (MLA), the Awards recognise beef producers who have achieved outstanding compliance rates to MSA specifications, as well as high eating quality performance as represented by MSA Index results for MSA graded cattle during the 2019-20 and 2020-21 financial years.

MSA was developed by the Australian red meat industry to improve the consistency of eating quality of beef and sheepmeat. The system is based on almost 1.2 million taste tests by more than 171,000 consumers from 11 countries and takes into account all factors that affect eating quality from the paddock to plate.

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