The Eastern Young Cattle Indicator (EYCI) stepped it up another notch on Thursday, hitting another all-time high of 450.25 cents a kilogram carcase weight.
The EYCI now sits 165.25c/kg higher than at the same time last year, and is 74.25c/kg above where it closed in December 2014.
Meat and Livestock Australia (MLA) reported 1764 head of young cattle were yarded at Dubbo on Thursday, and averaged 452.06c/kg.
This was 168.41c/kg higher than this time last year.
Elders Dubbo livestock manager Martin Simmons said the sale was "very dear".
"The cattle had plenty of condition and prices increased from about 10c/kg to 20c/kg on last week," he said.
"All grades were still selling extremely well with feeder steers still at the top around the 260c/kg (liveweight) mark.
Mr Simmons said livestock prices were being dictated by the weather, and could likely still increase later in the year.
"When prices look to be backing off, it rains again somewhere and it jumps again," he said.
"With prices this high in January when its normally quiet, what does that mean for the winter when its busy."
While Mr Simmons said the EYCI's current price was positive for the moment, it was unlikely to sustain such elevated prices in the long term.
