While the weekend’s massive rain event wasn’t great for those trying to complete this season’s harvest it was a boost to backgrounders, with the high moisture and warm weather to give a lift to pasture growth in the coming weeks.
Indeed, spirits of restockers across the east coast have been encouraged, and they continue to pay above-average premiums at the saleyard for young cattle.
The east coast restocker spread pattern shows they are happy to pay upwards of 6 per cent more than the headline Eastern Young Cattle Indicator to secure stock.
The EYCI finished the week up 2.5¢ to 579.75¢.
The Western Young Cattle Indicator was also higher, lifting 13¢ to 585¢.
This was despite the 90CL frozen cow index easing slightly to close at 609¢/kg cost-insurance-freight.