After a couple of weeks tracking sideways, the cattle market winter rally kicked off, with the EYCI gaining 15¢ to hit a 10 week high of 582.75¢/kg cwt.
Finished heavy cattle are hard to produce at this time of year, and the fact that so many cattle have been finished in feedlots over the last two years means that the supply of grass fed heavy cattle has to be lower.
The east coast heavy steer indicator is at a six month high of 538¢/kg cwt, and this is being driven by very strong values in Victoria (578¢/kg cwt), and NSW, where the Heavy Steer Indicator gained 24¢ this week to hit 560¢/kg cwt.
Queensland is holding the east coast indicator back, at just 509¢/kg cwt.
Cow markets have been the star performer over the last month, gaining 15 per cent to hit 458¢/kg cwt.
