Record cattle prices may slow national herd recovery as farmers struggle to restock

Record cattle prices are making it hard for producers trying to restock and may put the brakes on the national herd’s drought recovery.

The Eastern Young Cattle Indicator (EYCI) has passed the 900 cents a kilogram mark for the first time in history.

“People need to rebuild the herd and they’re scrambling to,” NAB agribusiness economist Phin Ziebell said.

“For producers who are looking to rebuild, you’ve sold low, you’re buying high and if you ask somebody what cattle prices will be in a few years,…