The Eastern Young Cattle Indicator has finally bounced back after 12 weeks of falls, returning to levels of three weeks ago.
EYCI yardings have also been low for a couple of weeks in a row, enough to have buyers competing harder and pushing prices.
Young cattle weren’t the only category to gain ground.
Heavy steers in Queensland and NSW rallied to 480 and 514¢/kg cwt. While heavy steer prices in Victoria didn’t rise, falling 17¢, they remain at a premium at 522¢/kg cwt. The 90CL frozen cow price has tracked sideways for the fourth week in a row and both the EYCI and Western Young Cattle Indicator (WYCI) have met it at about 555¢. This suggests falling beef export prices are driving the cattle price.
This time last year, the 90CL was about 570¢, while the EYCI was at 707¢/kg cwt.