It comes following a large offering last Wednesday, with 15,032 young cattle sold at saleyards — an increase of 10,000 head week-on-week.
The post-Easter break left many looking to capitalise on prices, according to Meat & Livestock Australia, but the large increases in supply were enough to place downward pressure on price.
Improvements in throughput came predominately from south-east Queensland, with Roma and Dalby contributing 3094 and 2250 head, respectively.
In the south, Wagga and Dubbo contributed 1846 and 1088 head, respectively.
Price dominance strongly correlated with higher throughput, which helped the EYCI launch into the 900¢ realm.
Saleyards in south-east Queensland, the Hunter Valley, central-west NSW and the Riverina all contributed to high prices and continue to perform highly.
The same story has continued in other areas too, with a host of store cattle indicators breaking new ground.
Restocker yearling steers hit 571¢/kg liveweight, up 165¢ on year-ago levels, while vealer steers rose to 526¢/kg lwt, up 130¢ on year-ago levels.
It was a similar story with feeder and trade yearling steers, which respectively reached 472¢/kg lwt, up 85¢ on year-ago levels, and 465¢/kg lwt, up 85¢ year-ago levels.
Rainfall across much of the supply area has invigorated confidence for producers looking to restock, according to MLA, and has combined with buyers looking to acquire as many cattle as possible to ensure production heading into winter.
For the week ending April 14, feedlots and restockers purchased the majority of EYCI-eligible cattle at 8075 and 5597 head, respectively.
Processors doubled quantity bought week-on-week, acquiring 1360 head.
15°C