Cattle prices increase on weaker throughput
20 July 2012
Cattle prices were generally stronger this week, mainly due to throughput declining 37% week-on-week at markets reported by MLA’s NLRS. Restockers were also active, with recent rain igniting competition among buyers.
The Eastern Young Cattle Indicator (EYCI) was 1¢ higher week-on-week, settling on 382.75¢/kg cwt on Thursday. The EYCI was 3.75¢ higher than the corresponding week last year, suggesting that recent lower supplies may be beginning to influence prices. The trade steer indicator eased 7¢, settling at 375¢/kg cwt, possibly due to quality issues – not uncommon for this time of year. The majority of the indicators increased, with medium steers strengthening 9¢ on 343¢/kg cwt, while heavy steers lifted 3¢, to average 351¢/kg cwt. There was limited demand for medium cows this week across most markets, easing 2¢, to settle on 282¢/kg cwt. Feeders remained relatively firm on 207¢/kg lwt.