Bids bolstered at NSW cattle sales

Bids bolstered at NSW cattle sales | Market Murmurs

Beef News
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The Eastern Young Cattle Indicator hit 794.75 cents a kilogram (carcase weight) last week and prices are still red hot early this week.

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Waterloo Station, Glen Innes, sold milk-tooth Angus heifers through Davidson Cameron and Company for 376c/kg at the Tamworth prime sale on Monday. The lead pen averaged 497kg and returned $1865 a head. Photo: Michelle Mawhinney

Waterloo Station, Glen Innes, sold milk-tooth Angus heifers through Davidson Cameron and Company for 376c/kg at the Tamworth prime sale on Monday. The lead pen averaged 497kg and returned $1865 a head. Photo: Michelle Mawhinney

COMPETITION in the saleyards remains red hot for young cattle and this forced the Eastern Young Cattle Indicator to a record of 794.75 cents a kilogram (carcase weight) last week.

Some selling centres recorded averages well above the EYCI as bids surged beyond the 800c/kg mark.

The EYCI is about 310c/kg higher than this time last year and 40c/kg above this time last month, according to Meat and Livestock Australlia figures.

Prices were dearer again at Wagga Wagga prime sale on Monday even though the supply lifted as a result of there being no sale the week before.

Premium prices were paid for feeder heifers of up to 416c/kg (liveweight) to average 399c/kg, while steers suitable to feed on were in demand, selling from 386c/kg to 421c/kg.

Feeder steers were 15c/kg to 20c/kg dearer at Forbes on the same day, with the medium and heavy feeder steers selling from 380c/kg to 425c/kg.

Feeder heifers were 17c/kg stronger, with the medium weights making from 364c/kg to 421c/kg.

Supply bounced to nearly 3500 head at Dubbo last Thursday, but most young cattle were still dearer.

Prime yearling steers sold from 390c/kg to 444c/kg, while the prime yearling heifers sold to 438c/kg.

Interestingly, MLA reported restockers were operating at a premium of 101c/kg to processors and 75c/kg to feeder buyers in the first week of October.

Is this the market top or is there more to come?

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