Key points:
- After Dalby yardings returned to traditional volumes, the EYCI recovered overnight to sit at 1,114c/kg cwt
- Slaughter reporting has been delayed due to flooding and rain across key supply regions of the eastern seaboard, resulting in reduced slaughter numbers
- National goat slaughter reached a new record.
Indicators
The Eastern Young Cattle Indicator (EYCI) fell to start the week due to softer yardings driven by widespread rainfall and flooding in NSW and Queensland. The indicator then recovered 8c on Wednesday by a return to traditional seasonal yardings for Dalby in Queensland. Less affected areas also have reduced yardings as they maintain restocker intentions off the back of favourable rain events over the past week.
The Western Young Cattle Indicator (WYCI) has performed strongly in the past week, with restocker and feeder buyers equally accounting for cattle. Overnight, the indicator price fell following the inclusion of the traditionally softer Muchea sale held on Tuesdays.
Wagga Wagga feeder steer yardings improved by 7% week on week as its price softened on improved supply. Roma's feeder steer price continued to perform strongly, recording a 23c/kg lwt or 7% premium to the national indicator.
The Singleton cattle sale did not operate this week due to flooding and inundation of roads around the region.
Sheep prices
National trade lamb prices have fallen this week by 20c/kg cwt as they follow the downward trend that began in early October 2021.
Wagga Wagga has been the largest contributor of trade lambs, accounting for 23.7% of the total yarding and paying a 33c/kg cwt premium over the national price.
Slaughter
Goat slaughter broke records again this week to reach 36,259 head nationally.
Slaughter reporting has been delayed this week with cattle numbers reduced due to flood and rain events across the eastern states of Australia. Slaughter figures for cattle are down week-on-week by 14.75%.
Major flooding in key cattle processor regions of northern NSW and south-east Queensland has had detrimental effects on plants, impacting overall processor capacity, their ability to access staff, and other issues. These impacts are contributing to the week-on-week softening of national cattle slaughter volumes.
