Markets

EYCI closes week 1.75c/kg higher

James Nason, 21/05/2011

After a second successive week characterised by smaller numbers in most states and mixed quality yardings in the approach to winter, the Eastern Young Cattle Indicator has stabilised to finish the week 1.75c/kg higher at 388.75c/kg.

MLA’s National Livestock Reporting Service indictors report that trade steer prices rose by 4c to 207c, feeder steers fell 2c lower to 204c, Japan ox fell 2c to 174c and medium cows rose 7c to 136c.

Queensland was the only Eastern state to record a lift n supply, with producer rejection of recent price falls considered the main reason for another week of reduced yardings in NSW, Victoria and South Australia.

In Victoria processors responded to the tighter supplies by lifting quotes for grown cattle from 3c-12c/kg. 

Higher prices of up to 263c for quality vealers and lower prices down to 170c for plainer vealers resulted in overall vealer averages remaining firm.

In NSW the lower numbers resulted in a stabilisation of prices across most grades. Quality was described as mixed with some cattle showing the effects of the recent cold snap. However, in general most cattle were well ahead growth wise than for the same period in previous years, the NLRS said.

A $50 per head drop in the price of young weaner steers at the CTLX store sale last week appeared to spark restockers back into the market this week. Prices ranged from $440 to $815 to average $614/head, or an overall average live weight price of 237c/kg, the NLRS weekly NSW cattle summary reported.

The largest turnaround in values in NSW occurred for grown steer and cow prices, attributed to tighter supplies. Heavy weight grown steers along with bullocks made 177¢, with a top price of 200¢/kg. Cows averaged 134¢ to 142¢/kg for D3 and D4 medium and heavy weights.

In Queensland quality was described as fair to good despite the onset of winter conditions.

Restocker grades in particular came under stronger competition according to the NLRS, with vealer steers and lightweight yearling steers gaining 6¢ to 7¢/kg. Feeder cattle meeting supermarket specifications met strong demand while the remainder met a cheaper market. Heavy steers and bullocks sold at firm to slightly cheaper rates for the week. 

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