EYCI surges past 590c/kg

That's a lift of 5c/kg in one day and about 25c/kg in the past month.

Almost all centres selling young cattle on Tuesday were dearer by at least 10c/kg.

Most were also averaging higher than the current EYCI suggesting there's potential for the indicator to keep climbing.

Limited supply for the past three weeks has helped keep the dearer momentum of the cattle market.

Mecardo analyst Angus Brown said the falling Australian dollar had no doubt also supported cattle prices at these record highs.

This is because a lower dollar eases some of the margin pressure that was apparently on processors.

"Traditionally the seasonal peak in cattle prices arrives in August or September, with later peaks reliant on early wet season rains in the north," Mr Brown said.

"Even when prices rally late in the year, they usually fall in October as grassfed cattle turn off from southern states picks up.

"That said, we may not see slaughter ramp up in the usual fashion, as it is still only back to the spring levels of 2013."

As a result, Mr Brown speculated young cattle slaughter could continue to track lower, or at least sideways, putting a floor under prices.