The Eastern Young Cattle Indicator (EYCI) fell 4.5% this week. It dropped from 871¢/kg liveweight (lwt) to 832¢/kg lwt. The fall was most obvious in prices processors were paying for young cattle − on average 773¢/kg lwt and a 6% reduction on week ago prices. This indicates processors prefer heavier and older animals – allowing them to harvest more meat per animal.

The National Processor Cow Indicator has lifted to its highest weekly price on record, reaching 390¢/kg liveweight (lwt) as of Wednesday 24 September. For context, this time last year, the indicator was nearly one dollar cheaper. The last major peak occurred in October 2022, when the post-drought rebuilds supported record cattle prices across all indicators.

Global cattle prices converge

Over-the-hook (OTH) cattle indicators gained momentum this week, following tightened supply resulting from widespread rainfall across many parts of the eastern states.

Cattle prices are tracking well above year-ago levels, with young cattle maintaining a premium to their finished counterparts.

Cattle prices approach historical highs

2019 prices for both cattle and sheep have been quite inconsistent, with each of the markets fluctuating week-to-week. Adverse conditions continue to dent market confidence and slaughter remains high.