Key points:
- Improved quality of cattle on offer has seen the WYCI rise 31¢ week-on-week.
- EYCI has strengthened 48¢ week-on-week on the back of a strong sale in Forbes.
- Lamb and sheep prices are lifting.
- Sheep slaughter has lifted 22% week-on-week with strong numbers coming out of Victoria.
WYCI and EYCI
This week, the Western Young Cattle Indicator (WYCI) has strengthened a further 31¢ to 985.89¢/kg cwt, following a 121¢ increase last week. A strong yarding of 900 head at Muchea with a good showing of quality cattle improved prices for the state.
Meanwhile, the Eastern Young Cattle Indicator (EYCI) has held firm over 1,000¢. Tamworth and Singleton traded at the largest premium on the national average, operating at a premium of 109¢ and 104¢ respectively.
After wet conditions around Tamworth in the last few weeks, yardings were stronger but condition across the sale varied.
Singleton saw numbers also lift week-on-week with the showing being of relatively good quality.
Varied quality and strong prices across saleyards are allowing plainer types to fetch higher prices while boosting restocker demand for cattle of good quality, especially for young cattle and vealers.
Producers will be seeking out these cattle to maximise feedbase utilisation. Other saleyards across NSW and Victoria are still seeing very mixed quality with the wintery conditions from the last few months. Queensland saleyards are seeing larger yardings pulled from a wider area as demand improves moving into the warmer months.
Sheep and lamb yardings
Sheep and lamb yardings in Dubbo softened 6,751 head on last week but the quality was strong, especially in the heavy lambs.
Yardings in Bendigo also eased as the recent softening of prices deterred producers from selling up. Wet conditions in the area have also impacted quality and the finish on lambs, further influencing prices.
New season lambs
Generally, new season lambs are showing promising quality as they start to hit the market in greater numbers. The volume of new season lambs yarded this week increased by 126% to 28,518 head nationally.
Stronger yardings and improved prices at Wagga Wagga on Thursday has seen prices for new season lambs hit $242/head. Although older lambs are still moving through the system, and there are a lot of them with mixed quality, the younger lambs are holding their own, presenting with a great finish. Restocker lambs improved by 86¢, with Wagga Wagga 141¢ above the national average and taking out the largest contribution of nearly 14%.
The strengthening in sheep and lamb prices and quality gives a promising picture of what is to come for the spring season as restockers look to further increase their numbers.
Slaughter
Cattle slaughter is back week-on-week after a softening in numbers in NSW by 13%. ³Ô¹ÏÍøÕ¾ cattle slaughter is currently sitting below year-ago levels at 93,570 head.
Sheep slaughter strengthened by 22% or 18,083 head this week with strong numbers coming out of Victoria. Kill rates in the state more than doubled week-on-week and have come up above year-ago levels both within the state and nationally.
Lamb slaughter held firm this week while goat slaughter strengthened to 33,401 head.
Updates
There was no Blackall market this week.
Indicator review
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