For the first time in five years, the eastern states of Australia have had above average rainfall. This widespread late autumn break has boosted cattle prices and producer sentiment.
The tighter cattle availability that continues as the nation rebuilds its depleted herd, on top of these good rains and high world parity prices, has created never before seen returns for slaughter cattle and breeders alike.
At the time of writing this article, the EYCI (Eastern Young Cattle Indicator) was at 706.25 c/kg cwt. Only 18 months ago, the EYCI had spent the 20 years prior, hovering around the 300 -400 c/kg mark.
There are some factors that will put a ceiling on these prices of course as cattle numbers rebuild and the effects of global commodity markets hit. So now is a great time to reap the rewards of a booming cattle industry and create more profitability for your cattle enterprise.
With the help of low grain prices, feed lotters are underpinning the cattle market and purchasing a far greater percentage of feeder cattle than in previous years. There has never been a better time to aim for the high quality, high marbling market and produce cattle that will be sought after for their genetics and carcase value.
The latest cattle reports and lots more information can be found on the MLA website. Go to mla.com.au