Friday, September 13, 2019
Support for young cattle drying up
The young cattle price slide continued this week as the lack of rain saw price support dry up further. There were no falls for finished cattle however, as demand continues to respond to rising export cattle prices.
Friday, September 06, 2019
Climate outlook and supply weigh on prices
Increasing cattle slaughter and yarding levels heading into early spring have seen cattle prices continue to soften this week for most categories. Further weighing on the general sentiment was the updated three-month rainfall outlook from the Bureau of Meteorology which points to a long dry period ahead for much of the country.
Friday, August 30, 2019
Support found at 500¢
Despite rising slaughter rates, and more dry weather, the Eastern Young Cattle Indicator (EYCI) managed to find some support at 500¢. The demand from export markets remains rampant, with slaughter cattle prices hitting new peaks.
Friday, August 23, 2019
The market didn’t like the forecast either
Last week we looked at the Bureau of Meteorology (BOM) spring rainfall forecast and it would seem the market looked at it as well. Young cattle prices took a dive this week, but finished cattle prices maintained their strength.
Friday, August 16, 2019
Brown is my least favourite colour
The first sneak peek at the spring rainfall outlook issued by the Bureau of Meteorology (BOM) yesterday paints a grim picture for cattle producers and you could say it’s a crappy forecast on account of all the brown patches spread across the country.
Friday, August 09, 2019
Yardings stronger but demand holding up
The yearly peak for the Eastern Young Cattle Indicator (EYCI) has drawn out more young cattle, but demand was up to the challenge. With young cattle yardings reaching a four month high, the EYCI managed to hold its strength.
Friday, August 02, 2019
Southern restockers starting to nibble at EYCI
A recent discussion with some livestock industry representatives this week suggested that in the southern regions, at least, restocker buyers were becoming more active. Certainly, the Eastern Young Cattle Indicator (EYCI) continues its grind higher closing at 532.5¢/kg cwt yesterday, up 1¢ on the week. But is it being supported across the eastern seaboard or by southern restockers?
Friday, July 26, 2019
Some normal seasonality returning
There has been more rain in the far south and nothing to speak of in the north, yet the Eastern Young Cattle Indicator (EYCI) continues to climb. This week we saw the EYCI hit a new 2019 high, and tip just past the five-year average.
Friday, July 19, 2019
Sideways – not just a movie about sad old men
The Eastern Young Cattle Indicator (EYCI) managed to eke out a limited gain this week, lifting 4.45¢ to close at 520¢/kg cwt. Limited rainfall across much of the nation, except Victoria, acted as a headwind. Meanwhile, tightening supply across the east coast stopped the market from tanking too much.
Friday, July 12, 2019
Season high for EYCI
The Eastern Young Cattle Indicator (EYCI) is finally having a go at its winter rally. Seasonal conditions are on the improve in the south and it appears restockers might have decided it is time to take on some risk.