A RELATIVELY subdued week saw the Eastern Young Cattle Indicator (EYCI) consolidate, with a slightly softer bias to close at 596.50¢/kg, down 9¢. A closer look at the component buyers that make up the saleyard purchases of EYCI style cattle demonstrates that lot feeders are leading the pack, accounting for 48% of sales. Demand from lot feeders, although healthy, represented 60 per cent of sales a month ago so has begun to show signs of consolidation.
Restockers, on the other hand, have demonstrated much more enthusiasm. Current figures indicate restockers make up 37 per cent of total sales of EYCI style cattle and processors are sitting at 15 per cent. The subdued interest from processors is not surprising as they are reducing production on the back of supply/margin concerns. Mecardo - expert market analysis
