CATTLE markets found support this week, as supplies failed to materialise, and beef export prices rallied.
Reported tightening of cattle and beef supplies in the US, saw the 90CL Frozen Cow Indicator hit a three month high.
The Eastern Young Cattle Indicator (EYCI) rallied 4.25¢ to 589.75¢/kg cwt, thanks largely to higher young cattle prices in Queensland, where the Trade Steer Indicator broke through 600¢/kg cwt.
Darwin Light Live Export Steer hit a new record of 375¢/kg lwt this week, while in Townsville it’s at 340¢.
The further south we go, the cheaper the cattle, with feeder steers at 325¢ in Queensland saleyards, 320¢ in NSW, 293¢ in Victoria and 290¢ in SA.
Export prices to the US rallied, gaining 12¢ to a 12-week high of 592¢/kg cwt.
Mecardo- expert market analysis
