Will cattle prices improve in February? | Market Murmurs

Processors bought just seven per cent of the young cattle sold in saleyards contributing to the calculation of the Eastern Young Cattle Indicator in the past week.

Meanwhile, the feedlots bought about 48pc and the rest of the cattle were picked up by restockers.

There's also been a pretty hefty portion of the EYCI calculation (nearly 90pc) skewed towards yearlings rather than vealers, which would be putting additional pressure on the average indicator.

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The EYCI was on 780 cents a kilogram (carcase weight) early this week.

Drilling deeper into the figures, it's clear the restockers are prepared to throw in an extra bid as the average for EYCI-type cattle to restockers sits just above 830c/kg.

In contrast, lotfeeders were averaging about 745c/kg, indicating they are much more cautious when buying in the saleyards.

Clearly, the EYCI doesn't account for the increasing number of young cattle sold direct to feedlots or those bought via online platforms, but it does indicate there's still plenty of market uncertainty about where the cattle market is headed in the first half of 2023.

The first-for-2023 market projections report from Meat and Livestock Australia may shed some light on sale expectations when it's released next week.

LONG-TIME Australian Livestock and Property Agents Association auditor and accountant Michael Hargreaves, Mosman, died last Friday.

Michael was appointed auditor of the NSW Stock and Station Agents Association in 1984.

From this, a lifelong association with NSW agents and later ALPA members was formed. This relationship included Michael being honoured with life membership to ALPA in 2019.

Michael's funeral will be at Sacred Heart Catholic Church, Mosman, at 11am on Monday, January 30.

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