Young Cattle Prices Reach Record Levels
AUSTRALIA - Nationally, cattle supplies at Meat and Livestock Australia's National Livestock Reporting Service reported markets, fell 20 per cent compared with last week, with the drop in numbers helping boost young cattle prices to record levels.
28 March 2011
2 minute read
After Tuesday's markets, the Eastern Young Cattle Indicator (EYCI) reached 417.50¢/kg cwt to eclipse the previous record set in early August 2005. A new record was set on Wednesday when the EYCI reached 420¢/kg cwt. At the conclusion of Thursday's sales it settled 12¢ higher week-on-week and 73.75¢ higher than the same time last year at 420.75¢/kg cwt.
The major factor behind the sharp increase in prices was the 19 per cent drop in young cattle supplies compared with last week. As Queensland once again recorded widespread rain, this caused further difficulties in transporting stock, resulting in the states' throughput falling 60 per cent . Yardings in NSW were mixed, with scattered showers in some areas holding cattle back, with yardings down 8 per cent . On the other hand, numbers were up 57 per cent in SA and Victoria following a short week due to the public holiday last Monday.
Strong buyer demand was received across all categories, with a dearer trend recorded. In the eastern states, medium vealer steers to restockers gained 1¢ to 254¢, as heifers to trade were 3¢ dearer, averaging 233¢/kg lwt. Light yearling steers back to the paddock averaged 10¢ higher at 236¢/kg lwt. Heavy yearling steers to feeders gained 2¢, to 218¢/kg lwt. Medium yearling heifers to slaughter lifted 2¢, settling at 213¢, as the heavyweights also purchased by processors gained 7¢, averaging 213¢/kg lwt.
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