EYCI

Stock and Land Beef
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The EYCI defied the stronger numbers to post a 23.25¢ gain to hit a new record of 619.25¢/kg cwt.

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Cattle yardings in National Livestock Reporting Service saleyards were up 9 per cent last week.

Rising prices seem to have drawn more cattle into the saleyards, but obviously supply is well down on last year and the five-year average.

The EYCI defied the stronger numbers to post a 23.25¢ gain to hit a new record of 619.25¢/kg cwt.

This easily eclipsed the old record of 605.75¢. Feeder demand, especially in NSW, helped drive prices higher.

The NSW domestic feeder steer indicator rallied 19.6¢ lwt, to hit an all-time record for east coast cattle of 356¢/kg lwt. The previous NSW feeder record, set in February, stands 7.5 per cent behind. Beef export prices rallied to provide some support for cattle values, with the US 90CL Frozen Cow Indicative price gaining 10.5¢ to sit at 603.4¢/kg swt.

*Mecardo – Ag Concepts

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