Cattle producers rejoice as EYCI catapults to record high
UPDATE: Australia’s cattle market is bulldozing into uncharted territory, with the national indicator reaching a record high.
Yesterday, the Eastern Young Cattle Indicator surged to a record 741.75¢/kg carcase weight.
It came after the EYCI soared to 737.5¢/kg cwt on Tuesday to pass the previous best of 725.75¢/kg cwt set on August 17, 2016.
The startling EYCI total marks a 313¢ increase year-on-year after the indicator was trading at 428.75¢/kg cwt on March 4 last year.
It also represents the national cattle market’s impressive performance over the past decade, after the ECYI was valued at 344.5¢/kg on March 4, 2010.
Although the Eastern States cattle price has been above the WA value for more than a fortnight, the State’s cattle producers are still relishing strong demand.
The Western Young Cattle Indicator reached 641.5¢/kg cwt on Tuesday to record a 151¢ hike over the past 12 months.
However, the WYCI depreciated yesterday to close at 634.75¢/kg cwt.
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