Noosa News
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.
Key points:
- The Eastern Young Cattle Indicator (EYCI) hit a record 888c/kg last month, but a growing number of analysts feel it has reached its peak
- Indonesia is feeling the pain of record-high live export prices
- Meat and Livestock Australia predicts slaughter numbers will decline and the national herd will increase in 2021
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…
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