The benchmark Eastern Young Cattle Indicator has reached the dizzying heights of 1027 cents a kilogram carcase weight, after jumping 19c overnight on Tuesday.
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It has now set a new record three times in the past week, having lifted 33c in just seven days. It now sits 243c above year-ago levels.
It had been treading water for the past month, since setting a new 1003c record in late July. The latest lift, which appears to be rain-driven, was beyond the expectations of all.
The result was driven largely by Roma saleyard in Queensland, where EYCI-eligible cattle averaged an incredible 1049.25c/kg yesterday.
Restockers are taking 46 per cent of the offering, indicating the fervour is grass-fuelled.
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Shan Goodwin
Shan Goodwin steers ACM’s national coverage of the beef industry. Shan has worked as a journalist for 30 years, the majority of that with agricultural publications. She spent many years as The Land’s North Coast reporter and has visited beef properties and stations throughout the country and overseas. She treats all breeds equally. Contact 0427686187. E: s.goodwin@austcommunitymedia.com.au
Shan Goodwin steers ACM’s national coverage of the beef industry. Shan has worked as a journalist for 30 years, the majority of that with agricultural publications. She spent many years as The Land’s North Coast reporter and has visited beef properties and stations throughout the country and overseas. She treats all breeds equally. Contact 0427686187. E: s.goodwin@austcommunitymedia.com.au
