Eastern young cattle indicator drops 12¢


Stock and Land Beef
Aa

The EYCI remains above the magic 700¢ mark.

After five weeks of price rises, adding 64¢ to the value of the EYCI, the market took a break this week.

Aa

The EYCI dropped 12¢ but remains above the magic 700¢ mark, at 707.75¢/kg cwt.

The US cattle market tried to rally early in August, but live cattle and feeder cattle futures have eased towards previous three-year lows. 

Steiner consulting group is citing weaker retail beef prices, driven by heavy supplies in cold storage and rising steer weights.

Low grain prices in the US are also encouraging chicken and pork production increases. US pork and chicken production is expected to grow by 274 and 464 thousand tonnes respectively – that’s 29 per cent of Australia’s total beef production. 

It’s easy to see why 90CL beef export prices to the US are finding it hard to rally, sitting at 574¢/kg cwt this week.

*Mecardo, Ag Concepts

Aa

From the front page

Sponsored by