Australia’s red-hot cattle market tipped to hit price correction in Year of the Ox

It’s the Year of the Ox in 2021 and it’s shaping up to be a lucky one for cattle producers who have plenty of grass and plenty of stock.

The Eastern Young Cattle Indicator (EYCI), which is the cattle industry’s key market indicator, hit an all-time high, and a very lucky number of 888 cents a kilogram last month, which was up more than 300c/kg on the same period last year.

The money being forked out for young cattle is…