Friday, March 27, 2020
Surge in throughput puts a dampener on prices
A rush to offload cattle this week has seen yardings surge and domestic cattle prices probe lower. Processors appear to be increasing their activity in response to domestic demand for red meat and offshore beef export prices lifted on supply chain concerns and consumer stockpiling.
Friday, March 20, 2020
Supply up on Covid concerns
The stellar run for the Eastern Young Cattle Indicator (EYCI) came to a halt this week, with increased yardings forcing the EYCI lower. What wasn’t taken into account, however, was the tanking Australian dollar seen late in the week, which should add support.
Friday, March 13, 2020
Supermarket shelves cleared and saleyards are bare too
Not a day goes by at the moment without a fresh picture on social media of empty supermarket shelves after a wave of panic buying. Despite record price levels for many categories of cattle saleyard throughout numbers remain fixed at the bottom end of the normal seasonal range signaling the incentive to hold and rebuild stocks is growing among producers.
Friday, March 06, 2020
Record EYCI despite weakening export demand
We know that grass fever trumps weak export demand, and this week we have seen it in spades. Despite declining export beef values, the Eastern Young Cattle Indicator (EYCI) hit a new record on the back of rampant demand and tight supply.
Friday, February 28, 2020
EYCI solid, but fat cattle stall on processor concerns
Increased cattle yarding across the eastern seaboard hasn’t slowed demand for young cattle this week but concern over export markets and the prospect of tighter margins appears to be slowing meat works appetite for finished cattle.
Friday, February 21, 2020
EYCI closing in on a record
The rain keeps coming, and there is more on the forecast, this time for areas which have missed out to date. The positive price response moved into its sixth week and is showing few signs of slowing.
Friday, February 14, 2020
Corona weighing on export prices, but domestic impact limited
Concerns over the Corona virus spread has softened beef export prices in recent weeks, but tight supply and favourable rainfall has limited the impact on cattle prices at a domestic level. Australian beef exports for January were healthy, but an inability to get Corona under control could see export flows impacted in the coming months.
Friday, February 07, 2020
Rain on the plain sees cattle price gain
Cattle markets have been waiting for a rain event, and it keeps coming. Average January rainfall has been followed by more rain in Queensland this week, and more is forecast for the east coast this week. If the drought hasn’t broken, price action suggests it is not far away.
Friday, January 31, 2020
Premiums return to young cattle
Widespread and significant rainfall in Queensland has seen cattle markets extend their gains this week aided by a rebound in offshore beef export prices. The added buyer enthusiasm for store and younger stock has seen the Eastern Young Cattle Indicator (EYCI) return to a premium to Eastern Heavy Steers for the first time in a while.
Friday, January 24, 2020
Cows the star but EYCI at 22 month highs
We haven’t seen an early January price rise for a few years, largely due to a lack of summer rain. This year we’ve seen store and cow markets lift in early sales as rain tightens supply and bolsters demand.