An EYCI holding above 720¢ for the week encouraged a lift in cattle numbers at the saleyard, particularly in NSW.
But continued softening of US live cattle futures and subdued beef export prices indicate the EYCI rally is running out of steam.
East coast cattle yarding figures experienced a solid 18.9 per cent lift in throughput from last week, with 57,515 head reported at the saleyard.
This was 21 per cent more than the five-year average yarding level for this time of year and suggests producers are keen to take advantage of the good prices available at the moment.
A dark cloud for the EYCI continues to be a subdued 90CL frozen cow indicator, 1.9¢ softer this week to close at 573.8¢/kg CIF. Adding to the concern, US live cattle futures have drifted back toward five-year lows.
