The Eastern Young Cattle Indicator was marginally softer this week, with Australia Day and a weather outlook – predicting drier conditions from February to April – giving buyers reason to pause.
The weather bureau’s latest outlook predicts lower than average rain for much of the central and south-eastern regions of Australia. Hotter than average minimum and maximum temperatures are also expected.
This week’s sideways movement in EYCI – closing just 0.75¢ softer at 651.5¢/kg cwt – came as restockers pause to think about the implications. As we head into February eyes will be on the skies, temperature gauges and the condition of the pasture, as this will influence how aggressive restocker demand will be for cattle, and whether they will continue to drive the price direction as much as they did last season.
