Limited rainfall and higher cattle numbers weigh down market

Limited rainfall and higher cattle numbers weigh down market


Analysis
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The Eastern Young Cattle Indicator closes at 481c/kg.

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The Eastern Young Cattle Indicator (EYCI) eased 5 per cent on the week to close at 481 cents a kilogram cwt, as limited rainfall and higher throughput conspired to weigh on the market.

This move was mirrored across the broader national cattle market, except for the Medium and Heavy Steers.

Improved young cattle prices during late March/early April have seen yarding levels of EYCI eligible cattle lift 42 per cent, from averaging more than 14,300 head a day in the week ending April 5 to 21,250 the week ending April 12.

The result of the increased volume pressured the EYCI to ease 5 per cent after previously peaking at 507c.

Improved prices were not the only attraction drawing out young cattle though, as limited rainfall across the country saw the daily EYCI cattle yarding reach a peak of 23,803 head on Thursday.

This was the highest daily throughput level recorded so far this season.

Higher saleyard volumes on the back of the limited rainfall hampered other east coast categories of cattle, with falls in the week between 5c-15c noted.

National Heavy and Medium Steers were two of the few categories managing to gain on the week to close at 275c and 282c live weight, respectively.

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