The EYCI has lost another 5¢, taking the monthly loss to 20¢ at 645¢/kg cwt.
While it’s a five-month low, it is still 45¢ above the same time last year.
The Eastern States Heavy Steer Indicator has held steady, tracking along between 550 and 560¢/kg cwt for all of November.
Medium cows have steadied, and actually gained some ground.
The East Coast Medium Cow has gained 10¢ over the month, to sit at 482¢/kg cwt.
In terms of the spread, heavy steers have narrowed their discount to young cattle to 100¢ – this time last year it was 50¢.
Cows are a different story, with each state’s cow indicator now sitting at a 20 per cent discount to the EYCI.
Given the current 90CL price, it’s hard to see cows getting much closer to the EYCI.