The Eastern Young Cattle Indicator has lifted again, recovering 3 per cent to close at 558.50¢/kg cwt after good rainfall to much of Queensland provided a boost.
Gains were also noted across the east coast for Heavy and Feeder Steers, up 1-2 per cent to round out a reasonably firm performance for cattle markets.
Trade and Medium Steer prices noted falls from last week. Interestingly, a comparison of young cattle prices to finished steers from this time last year shows that the EYCI currently sits 17.8 per cent below where is was last season, while Heavy Steers are just 10.6 per cent softer.
It shows how much optimism was sapped out of restocker buying activity during the winter dry spell, but that may change if the northern rains continue and NSW starts to get a bit of decent rainfall too.
