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.

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…