- The EYCI sat above year-ago levels for the first time in over a month and a half.
- Yardings tightened and restocker demand returned.
- Lamb slaughter has reached its second highest level for this year.
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The Eastern Young Cattle Indicator (EYCI) strengthened again this week by 46¢ to sit at 1,006.28¢/kg cwt. This is the first time since the middle of July that the EYCI has been pushed above year-ago levels.
The EYCI’s rise follows a very strong sale at Wagga Wagga, which took out 16% of the contribution to the indicator and traded at a 60¢ premium on the national average. Increased restocker demand and tightening supply have pushed buyer demand higher.
Meanwhile, the restocker premium has increased again, to sit 12% higher than feeder prices in the EYCI.
The Western Australian Young Cattle Indicator (WYCI) has eased 58¢ week-on-week with a larger yarding at Mount Barker, following heavy rains in the area.
Trade lamb prices continue to hold firm at 739.13¢/kg cwt, with Forbes taking out the largest premium on the national average at 804.12¢/kg cwt. Forbes has bounced back after a dip in prices from the last few weeks as the tail end of the season moved through the saleyards.
Restocker lambs have improved 36¢ week-on-week with prices in Wagga Wagga and Forbes, sitting 291¢ and 207¢ above the national average respectively. While this did improve the price of the indicator, the largest contributor – CLTX Carcoar – traded 164¢ below the national average of 630.41¢/kg cwt following increased yardings for restockers. Overall, the quality moving through seems to be improving.
Young lambs are continuing to hit the market with a 14% increase week-on-week.
Yardings across the board have been tightening which is helping prices with increased demand at the saleyards. Much of this demand is coming from restockers.
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