Markets

Weather pressures EYCI indicator performance

Jon Condon 16/01/2013

 

The first few Eastern Young Cattle Indicator reports for the year issued since Monday this week have graphically illustrated the continuing deterioration in seasonal conditions and market outlook across large areas of eastern Australia.

As seen in Beef Central’s home page graph, yesterday’s EYCI calculated by the National Livestock Reporting Service closed at 310.75c/kg, a dramatic 17.75c slip from the final 2012 figure posted on December 18.

Yesterday’s figure is a whopping 104.5c decline from this time last year, as seasonal fortunes have literally evaporated across large areas of eastern Australia over the past five or six months.

The trend is also clearly reflected in this season’s southern weaner sales, where disappointing prices have been recorded at all of the region’s showcase weaner sale fixtures. (See Tom Dawkins’ separate wrap-up on Beef Central this morning on the southern weaner sales circuit.)

Other NLRS indicators have softened also since late last year, but are nowhere near as badly affected.

Yesterday’s trade steer indicator reached 170.8c/kg liveweight (back 13c/kg from 183c/kg on December 18); the heavy steer indicator reached 174.3c/kg (178.5c before Christmas) and medium cows 123.7c (122c). 

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