It was only in mid-July that the Eastern Young Cattle Indicator (EYCI) broke through 600¢.
The downward spiral now has the EYCI looking down the barrel of a number starting with four. There has finally been some positive news on the climatic front, however, which could and should provide some support, if it eventuates.
It has only taken 10 weeks for the EYCI to lose 100¢. The slide has been helped along by relentless dry weather through most of NSW and Southern Queensland, but the Bureau of Meteorology (BOM) suggests this might be about to change.
The BOM is putting a 50-60 per cent chance of much of the east coast receiving better than median rainfall from October to December. For October the chances of exceeding median rainfall is even better.