Noosa News
Eastern Young Cattle Indicator hits historic high, putting ‘massive’ pressure on meat processing industry
The Eastern Young Cattle Indicator (EYCI) has passed the 900 cents a kilogram mark for the first time in history.
Key points:
- The indicator hit 901.75 cents a kilogram on Wednesday afternoon
- That is almost 200 cents higher than 12 months ago
- The high prices are meaning processors are losing up to $300 a head
The EYCI closed yesterday at 901.75 cents, almost 200 cents up on the same time last year.
The indicator is used as a general benchmark of young cattle prices nationally and has been on a steady rise since drought-breaking rains in New South Wales and Queensland early last year.
That dramatic change in fortunes for cattle producers has created extraordinary demand and extremely limited supply.
A long time coming
Matt Dalgleish, manager of…
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