Wet weather caused some havoc getting cattle to saleyards, causing the normal tightening in winter supply to be exacerbated. The Eastern Young Cattle Indicator (EYCI) climbed 2.3 per cent, closing at 596¢/kg cwt.
Cattle throughput at saleyards in Queensland was particularly soft this week, with 11,221 head reported. This represents a 27.7 per cent reduction from the five-year average weekly yarding figure for this time of year and is 39.5 per cent under the 2015 level. The lower Queensland yarding numbers dragging down the total east coast throughput to see 35,880 head recorded for the week, which is 15.9 per cent below the five-year average.
The 90CL beef export price, a mere 0.1¢ lower this week, closed at 592.1¢/kg despite the 90CL in US$ terms gaining ground. This effect was due to the higher A$.
Sign up for our newsletter to stay up to date.