Friday, May 17, 2019
Young cattle demand dries up, again
A fortnight ago we were talking about the Eastern Young Cattle Indicator (EYCI) yo yo going up. This week the yo yo went down, with young cattle prices falling back towards April lows. When looking for a culprit, it would seem a return to dry conditions might be to blame.
Friday, May 10, 2019
What happens when you just add water?
Fifty millimeters were tipped out of the gauge this morning in the Western districts of Victoria, where I live. Gladly, the weekly rainfall pattern shows that much of the south east quadrant of the nation have been doing the same with 25-50 mm fall registered in many regions, bringing some support to cattle prices
Friday, May 03, 2019
Cattle Yo Yo goes back up
Post drought cattle prices are inherently volatile. This is especially so for young cattle. This week we saw the Eastern Young Cattle Indicator (EYCI) yo yo bounce back up in the first full week of trading for three weeks.
Friday, April 26, 2019
Low yarding and rain give EYCI a boost
A combination of low saleyard volumes and rainfall have helped to shore up the Eastern Young Cattle Indicator (EYCI) this week amidst the Easter and ANZAC public holidays, which have provided limited cattle sale opportunities.
Thursday, April 18, 2019
Cattle price rally stalled and jammed into reverse
Just when we thought the Eastern Young Cattle Indicator (EYCI) was going to break through last years’ level for the first time in over 18 months, the tap turned off and Easter arrived to disrupt the market. This week the EYCI rally not only stalled but jammed into reverse.
Friday, April 12, 2019
Volume and lack of follow up rain weighs on market
The Eastern Young Cattle Indicator (EYCI) eased 5% on the week to close at 481¢/kg cwt as limited rainfall and higher throughput conspired to weigh on the market; a move that was mirrored across the broader national cattle market except for the Medium and Heavy Steers.
Friday, April 05, 2019
Cattle rally slows with nothing on the forecast
The cattle price rally continued this week but slowed. The Eastern Young Cattle Indicator (EYCI) did break through 500¢ for the first time since very early January and it looks likely to break through last year’s levels.
Friday, March 29, 2019
Hat eating ceremony postponed
A fortnight ago the Eastern Young Cattle Indicator (EYCI) was trading under 400¢ and I made the bold statement that I’d eat my hat if it kept going lower. Thankfully, some significant rain to Queensland in the last week has seen cattle prices rebound. Although, according to the Bureau of Meteorology (BOM) we are not out of the woods yet.
Friday, March 22, 2019
Improving season reflected in prices
It looked like cattle prices were headed into the abyss, but then sellers and buyers alike saw a bit of rain on the radar and started to think they were a bit cheap. And up prices go, quicker than they came down in fact.
Friday, March 15, 2019
What the... rainfall?
When the Bureau of Meteorology (BOM) say their forecast accuracy at this time of the year is poor they aren’t kidding. Just a fortnight ago I was lamenting the poor rainfall forecast issued by the BOM in late February and just yesterday they issued a complete turnaround. Too bad it hasn’t flowed through to cattle market prices yet.