Eastern cattle index may have peaked for 2016


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Continued softening of US live cattle futures and subdued beef export prices indicate the EYCI rally is running out of steam.

An EYCI holding above 720¢ for the week encouraged a lift in cattle numbers at the saleyard, particularly in NSW.

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But continued softening of US live cattle futures and subdued beef export prices indicate the EYCI rally is running out of steam.

East coast cattle yarding figures experienced a solid 18.9 per cent lift in throughput from last week, with 57,515 head reported at the saleyard.

This was 21 per cent more than the five-year average yarding level for this time of year and suggests producers are keen to take advantage of the good prices available at the moment.

A dark cloud for the EYCI continues to be a subdued 90CL frozen cow indicator, 1.9¢ softer this week to close at 573.8¢/kg CIF. Adding to the concern, US live cattle futures have drifted back toward five-year lows.

*Mecardo, Ag Concepts

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