Most of the eastern states received rainfall and despite higher throughput young cattle prices continued to climb, with the benchmark Eastern Young Cattle Indicator closing up 1.8 per cent to see it at 577.50¢/kg cwt.
The improved young cattle prices in addition to a 5.3 per cent lift in cattle throughput along the east coast, saw this week’s yarding figures back near longer term average levels at around 48,000 head. This is the highest weekly yarding figure reported in nearly two months, which suggests demand is managing to keep up with the extra saleyard volumes. Indeed, since the start of October weekly east coast cattle yardings have lifted 93 per cent and over the same time the EYCI has managed to gain around eight per cent. The price jump was not limited to east coast young cattle with the WYCI lifting 7.9 per cent.
