CATTLE prices have been boosted in the past week with the Eastern Young Cattle Indicator surging to 498.75 cents a kilogram (carcase weight).
That’s nearly 20c/kg higher than a week earlier and about 30c/kg more than at the same time last month.
Rain across parts of Victoria and southern NSW during the past week helped to give the market a boost, according to Meat and Livestock Australia.
Dubbo’s young cattle market last Thursday was nearly 12c/kg dearer, while Armidale rose an average of 32c/kg and Bairnsdale in Victoria was up 27c/kg on the same day.
Dalby in Queensland, Casino and Singleton were also significantly dearer last Wednesday.
MLA said most of the EYCI eligible cattle sold to feeder and restocker buyers last week, accounting for 45 per cent and 39pc respectively.
“There was a small rise in young cattle going to processors during the past week, from 13pc to 16pc,” MLA said.
While not taking the largest percentage, processors were paying a premium for their cattle, underpinning the lift in consignments, paying on average 4c/kg more than feeder buyers and 55c/kg more than restockers.
Further improvements in the EYCI will be dependent on rain in the next week.