ANYBODY looking at today’s Eastern Young Cattle Indicator graph, plotting prices for the past 12 months, might assume the world is about to end.
Certainly the current sharp correction which set in in early June looks extreme, to say the least. The market for young cattle* (*see definition of cattle eligible for the EYCI below) has now fallen almost 190c/kg in the past seven weeks, or 16.4 percent (remember that percentage figure, because it comes into play further below in this item).
On a typical light backgrounder steer weighing say, 330kg, that’s a fall of a not insignificant…
