Buyers favour feeders as Easter disrupts market

Buyers favour feeders as Easter disrupts market


Markets
The east coast feeder steer indicator is at 275c/kg lwt, a very strong 30 cent premium to the EYCI.

The east coast feeder steer indicator is at 275c/kg lwt, a very strong 30 cent premium to the EYCI.

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Last week the EYCI rally not only stalled but jammed into reverse.

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Just when we thought the Eastern Young Cattle Indicator (EYCI) was going to break through last years' level for the first time in more than 18 months, the tap turned off and Easter arrived to disrupt the market.

Last week the EYCI rally not only stalled but jammed into reverse.

With only four kill days last week, and just three this week, it's not surprising to see demand weaken at saleyards.

EYCI yardings were down 34 per cent and prices down 6 per cent, suggesting that buyers weren't keen on young cattle this week.

It was seemingly just young cattle which felt the weakening demand.

Finished cattle prices were largely steady, ranging from an 8c/kg lwt fall for Medium Steers to a 6c/kg rise for yearling steers.

Every east coast indicator is above the levels of last year, except the EYCI.

The lack of feed around and lack of rain on the forecast continues to dampen prices of lighter store cattle.

Those of feeder weights are selling better than last year, but only just.

The east coast feeder steer indicator is at 275c/kg lwt, a very strong 30 cent premium to the EYCI.

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