Rain fails to shift national figures

Rain fails to shift national figures


Aa

While lamb and sheep prices have reacted to the rain in Victoria and NSW, the heavy falls didn’t make it to northern NSW and Queensland.

Aa

While lamb and sheep prices have reacted to the rain in Victoria and NSW, the heavy falls didn’t make it to northern NSW and Queensland.

As a result, national indicators were stagnant. Eastern Young Cattle Indicator yardings fell away from the seven-month highs of last week but remained strong.

Seemingly, demand was a little weaker. The EYCI tracked sideways, finishing at 579.25¢/kg cwt. It’s now spent six weeks around this level. The Victorian Restocker Indicator rallied 36¢ to 305¢/kg lwt, but remains well behind its Queensland and NSW counterparts (359 and 328¢ respectively). 

Export beef prices also eased this week, which might explain lower slaughter cattle values. The 90CL Frozen Cow Indicator fell 17¢, or 2.5 per cent, to a six-week low of 592¢/kg swt on the back of weaker demand from the US. 

*Mecardo Ag Concepts

Aa

From the front page

Sponsored by