A week of records and yearly highs
29 July 2021
- EYCI broke the 1,000¢/kg barrier
- National Trade Lamb Indicator cracks the 900¢/kg mark
- National Medium Cow Indicator hits record
Last week, the EYCI hit a new all-time record, breaking through the 1,000¢/kg mark to hit 1,003¢/kg cwt. This week, the EYCI has returned to below 1,000¢/kg, sitting at 988¢/kg cwt. At this price, the EYCI is still performing well and is 235¢/kg above the same time last year.
Rain, restocker confidence and weaner cattle sales were the drivers behind the new EYCI record. This week, the drop in price coincided with reduced throughput – down 2,500 eligible cattle on last week.
This week, it has also been made clear the sheer impact the Roma sale has on the performance of the EYCI. Last week, Roma accounted for 40% of EYCI cattle, but this week on Tuesday 29 July it was back to 28%, which has contributed to the decline in the indicator.
Trade lamb prices continued to climb nationwide this week. The National Trade Lamb Indicator cracked the 900¢/kg mark this week – hitting 909¢/kg cwt. This is a 15¢/kg rise in a day, or 2%. This is in line with the seasonal winter peak, where lamb supply is constrained.
Heavier trade lambs are reaching 1,000¢/kg cwt. In contrast, lighter trade lambs are trading at a discount – in some instances around 800¢/kg cwt. Merino and heavy lambs are also trading at elevated levels.
Last week the National Medium Cow indicator hit 314¢/kg lwt. Victoria and NSW were driving this record. The low level of females being offered is behind this record. The Medium Cow Indicator weakened this week, and is now sitting at 309.3¢/kg lwt.
© Meat & Livestock Australia Limited, 2021