Cattle best suited forthe local and supermarket trade were red hot at many selling centres over the past week, culminating at Pakenham on Monday, where prime supplementary fed Charolais steers, 423 kilograms liveweight sold to a record top of 403.2c/kg.
Nanjing Night Net

This consignment of 45 steers and heifers form Edenhope, averaged 450kgs, and 390.2c/kg lwt, which was 23c/kg higher than the last consignment two weeks ago.

Dressing out at an estimated 60 per cent, this equals 672c/kg carcass weight. However, these do not fit the category for calculating the Eastern Young Cattle Indicator, as they were predominantly B muscle cattle.

The EYCI has lifted 61.5c week-on-week, and a whopping 152.75c year-on-year.

While some say the EYCI is a waste of time, Ibeg to differ, because, if it is calculated as described, it is a good indication of market trend.

How is the EYCI calculated? To formulate the EYCI daily, MLA use data captured in their daily market reports across Victoria, NSW and Queensland. It is based on young cattle, C2& C3and muscle scores of cattle weighing from 250-520kgs lwt.Providing the data captured is consistent, and accurate, the EYCI gives a steady, daily report of market trends, whether you believe the data entered or not.

The EYCI report also tells how many cattle, for each market, have gone into making the final figure, and at Wagga Wagga, on Monday, this figure was 2233 head, almost half of the total recorded.

So, given the high number of cattle purchased for grain feeding, or to return to pasture, in this market, is the EYCI then a good indication of trade cattle price?Remember that the EYCI is 720.50c/kg, and direct to the works prices are more like 660-670c/kg cwt, does this really stack up?Once again, Isay that if the quality and grades of cattle recorded are assessed the same day in, day out, then the EYCI remains a strong indicator, as it moves with the market prices.

While the top prices have peaked over 400c/kg, many of the C muscle cattle creating the EYCI have sold between 365 & 395c/kg with some restockers paying up to 465c/kg for younger calves.

Does it take into account the prime yearling steers and bullocks?Not if they are over the weight parameter.

These better quality grown steers and bullocks were a little cheaper this week with many selling from 335-370c, a drop of 10-20c/kg lwt.

Better quality heifers have continued to sell well with prices varying from 355-375c/kg for grass fattened heifers, and up to 400c/kg for grain assisted cattle.

Depending on which market you were at some of grown heifers were cheaper, by up to 10c/kg with most selling from 335-355c/kg. This variation in price was similar to that of cows.

After a very strong cow market last week, prices were firm to 15c/kg cheaper. The high price of good quality beef cows was mostly from 275-310c with many of the lean dairy cows between 195 & 265c/kg lwt.

Some clown said that prices would start to fall around grand final day in September, no doubt someone will remind me of this later.

Leo Kelly, Edenhope, topped not only Pakenham, Monday, but the state, with a new record of 403.2c/kg lwt with these Charolais heifers.

Chris & Lydian Conway sold 12 Angus heifers, Banquet & Anvil blood, 2.5 years, PTIC to Lawson’s Angus bulls for $1880 at Yea. Chris is pictured with Alex Dixon, Elders.

Landmark auctioneer Brian McCormack sells to one of the largest ever crowds at Yea last Friday. Prices were red hot for steers and heifers.

MLA market analyst TIm Ryan at the East Gippsland Beef Conference, Tuesday, explaining the change in EYCI trends, reaching 729c during the week.

This story Administrator ready to work first appeared on Nanjing Night Net.