Prices for cattle across the eastern states continue to rise, with most indicators at their highest so far for 2009, Meat and Livestock Australia reports.
It says that a widespread improvement in seasonal conditions, which has both tightened numbers and boosted restocker and feeder demand, has been the main driver behind the higher prices.
At the close of Wednesday and Thursday markets, the Eastern Young Cattle Indicator (EYCI) was up 2.25¢ above the corresponding period last year, to 344.5¢/kg (carcase weight).
The improved season has maintained tight numbers, improved quality and sparked added restocker interest.
Cheap grain and improved outlook has also instigated fierce feeder competition, assisting the rise in the EYCI.
While Japan ox prices have slowly increased in recent months, reaching 181¢, they still remain 6¢/kg (live) lower than the corresponding week last year.
US cow prices have followed a similar trend, as the respective indicator settled this week at a 2009 high of 132¢, but still 8¢/kg back year-on-year.
Sign up for our newsletter to stay up to date.