August 1, 2011

Australia's cattle prices vary

Eastern states cattle prices have been fluctuating recently, and when compared with past information, numerous markers are leaning towards the opposite direction.

According to Meat & Livestock Australia, over the winter thus far, cattle markets have varied from week to week, as buyers and sellers approach the market with caution.

Most notably, the Eastern Young Cattle Indicator (EYCI) has softened through winter, with the benchmark indicator down 9.5¢ on last week, settling at 370.5¢/kg cwt. This represents a fall of 5% since the beginning of winter, which is unique given over the past five years the EYCI has averaged 2% higher during this period.

The heavy steer and medium cow indicators have remained subdued throughout winter, impacted by the high Australian dollar and reduced demand in Japan and the US. After Thursday's (Jul 28) markets, heavy steer prices averaged 178¢/kg lwt or 3% lower compared with early June, while medium cow prices were stable at 138¢/kg lwt.