Significant rain has fallen in part of both Southern and Northern Australia this week

SALEYARD prices have jumped significantly this week, with the benchmark Eastern Young Cattle Indicator hitting highest price this year at 739c/kg carcase weight.

The EYCI crossed 700c/kg carcase weight yesterday, before opening today at 724c. The indicator reached 739c at one point today, which is its highest price since January this year when it reached 725c.

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While the EYCI has been relatively stable this year between 650c and 700c, it has been stronger than the first half of last year when it hovered between 550c and 650c.

Rain in parts of Southern New South Wales and Victoria appears to have reduced numbers at some of the bigger southern saleyards – which have been hosting extra sales to compensate for a drought-induced sell-off of cattle.

Numbers at the Wagga cattle sale dropped to 4555 head from 6795 the week before and 8610 the week before that. Wodonga was also down 530 head to 1300.

In researching the feeder market update this week, many remarked that plenty more rain was needed to bring much of the south out of drought. However, the sight of rain had been enough to bring some positivity back.

The National Livestock Reporting Service Wagga sale report said that restocker buyers from further north were enthusiastic at this week’s sale, which helped significantly lift prices with a surge in demand for cattle under 300kg.

Northern saleyards have also seen a lift in prices across the board, with yesterday’s Roma sale seeing heavy competition for medium-to-heavy from Northern NSW.

Numbers have still been strong at the northern yards with cattle starting to move out of Western and Northern parts of Queensland. Roma penned 5500 yesterday and Dalby penned 4900 today.

There is a rain system currently passing through the north, with some big falls of more than 180mm around Katherine in the Northern Territory. More rain is on the forecast, with falls between 25mm and 100mm in an area from the Barkly Tableland to Central Qld.

• Responding for similar reasons, lamb prices have also surged this week. See Sheep Central’s story here.