While cattle prices eased again last week, the rate of decline has slowed.
The EYCI dropped 112¢ over the previous 12 weeks, at a rate of 9.3¢ per week. Last week, the EYCI lost “only” 4.75¢ to hit yet another 22-month low of 538.75¢/kg cwt. At a dressing percentage of 54 per cent, the EYCI was at 291¢/kg lwt.
The National Trade Steer Indicator was 299¢/kg lwt, while the National Feeder Steer Indicator was 300¢. With both trade and feeder steers at a premium to the EYCI, it suggests restocker type cattle and heifers are discounted to the EYCI, dragging the average down.
Cattle prices were generally lower despite the weakest yardings for a full week in 11 months. Cattle supply has been on the decline for nearly two months, and now sit well below last year and the five-year average.