The past week was a bit of a mixed bag in cattle markets, with the Eastern Young Cattle Indicator (EYCI) falling 9.5¢ to a three-week low of 651¢/kg cwt.
The decline was largely due to restocker and feeder demand waning marginally. Trade steers gained ground in eastern states, particularly in Queensland where prices were up 64¢ to 636¢/kg cwt.
In NSW, trade steer prices were even higher, at 679¢, while they languished in Victoria at 633¢. Feeder steers were lower, losing ground in Victoria and Queensland, but they were at a solid premium to trade, so perhaps it’s just a correction given finished cattle become hard to find at this time of year.
The Western Young Cattle Indicator has been reported for the first time in a month, and it’s sitting higher than its east coast counterpart at 693¢/kg cwt.