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
Meanwhile, feeder cattle have softened 6c/kg lwt week-on-week to 536.71c/kg lwt. A premium price on the national average was found in Forbes and Dubbo, at 46c/kg lwt and 32c/kg lwt respectively. These saleyards contribute 12% of the market, with Dubbo occupying 8% as the third largest of all the saleyards nationally.
Medium steers
Medium steer prices have softened 58c/kg lwt week-on-week due to the lower throughput and softer yardings seen this week. A premium price of 132c/kg lwt on the national average was found in Mount Gambier with a 2% contribution. At Tamworth, which provides a 10% contribution, medium steers were trading at a 48c/kg lwt on the national average. This was due to a strong demand from processors, who comprised 26% of sales.
Online sales
AuctionsPlus numbers for online sales were 7% higher week-on-week, reaching 17,848 head. This reflects the increase in restocker demand after some rain in northern NSW and southern QLD increasing the feed available.
Sheep
Trade lambs have risen 12c/kg cwt week-on-week but there were nearly 2,000 less head reporting due to the Easter holidays and sales not going ahead. The rise in trade lamb price is due to a strong demand from processors at 81% of sales. This demand has strengthened 10% week-on-week.
A premium price on the national average for trade lambs can be found throughout NSW, with Wagga Wagga recording a premium of 17c over the national average and contributing the highest percentage at 23%.
Heavy lamb prices have softened 4c/kg cwt week-on-week but premium prices of 40c/kg cwt to 798c/kg cwt were found in Corowa with strong demand from processors. This was met with a strengthening of the yardings at Corowa by 2,275 head with mixed quality.
Slaughter
Cattle slaughter is up year-on-year, rising by 126% on 2021 numbers to 95,935 head. This is due to the Easter holidays, with processors pushing for a greater throughput before the holidays and the start of three short weeks.
Lamb slaughter is seasonally higher compared to the last two years. 394,712 head were slaughtered this week, up 90,419 head from last year. This puts lamb slaughter at 4,861,000 head this year to date. This increased slaughter is pushing the prices up on the trade lamb indicator with the greater demand from processors.
Sales not going ahead
Sales that did not go ahead this week: Singleton, Yass Sheep, CTLX Sheep, Cowra.
Sales not going ahead due to Easter Friday: Elders Feeder sale, CTLX Store, Griffith.
Sales not going ahead due to Easter Monday: Mortlake, Dubbo, Toowoomba, Forbes Cattle, Pakenham, Wagga Wagga Cattle, Tamworth, Bendigo, Muchea Cattle, Corowa, Ballarat Cattle.