Markets remain very mixed, with the EYCI continuing its fall, losing 7¢ to hit an eight-month low of 613.75¢/kg cwt.
Similarly, east coast heavy steer and eastern cow prices also hit eight-month lows.
Prices were mixed, with most of the declines in Queensland, while Victorian prices were steady or slightly higher. Queensland trade steer fell to 308¢/kg lwt this week. In Victoria, trade steers made 348¢, while in NSW it was 331¢.
This suggests young cattle supply is starting to move in Queensland, whereas it is normally still tight in southern states at this time of year. Young cattle still have 50¢ or so to fall before they are back in line with “normal” discounts to the EYCI.
Heavy steers remain at a 15 per cent discount to the EYCI, while cows are at a 25 per cent discount.