The EYCI didn’t just hit 700¢ last week – it smashed through it, finishing Thursday at 720.25¢/kg cwt.
Supply of young cattle was stronger, so demand really took hold of the market.
Young cattle supply in EYCI saleyards hit a six-week high of 16,452 head, a number that’s been bettered only once since the start of June.
Total yarding numbers on the east coast were also higher, which suggests that demand has taken a significant jump higher, for a week at least.
Most pundits are suggesting restockers and feeders are responsible for the lift in prices, which has seen the EYCI gain 60¢, or 9 per cent, in four weeks.
Western Australian cattle markets have gone from being a pacesetter for much of the last three years to being a laggard, sitting this week at 640¢/kg cwt.
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