AFTER a brief rally in April, the Eastern Young Cattle Indicator has continued to decline in value, falling below 650c/kg (dressed weight equivalent) for the first time since November, 2020.
The indicator today sits at 646.7c/kg, falling another 24c over the past week, and now 461c/kg below where it sat this time last year.
Many in the industry felt the EYCI had found a bottom back in late March, when it found some support with a 33c mini-recovery through to this time last month – but that has proven to be short-lived.
The current push lower appears to be heavily influenced by supply,…
