Market Morsel: Cattle volumes weigh on market
The last two weeks have seen more than 65,000 head of cattle sent to sale yards across the nation and the added volumes have began to weigh on prices this week.
Average weekly cattle yarding levels have lifted by about 37% compared to levels achieved last month. This places current weekly throughput volumes around 10% ahead of the five-year average levels for this time in the season.
Cattle prices are off across the board, with younger EYCI style cattle and heavy steers both falling more than 20c/kg on the week.
The EYCI is down nearly 3% to close at 805 c/kg cwt. Meanwhile, the Eastern Heavy Steer is off 6% to come in at 354c/kg lwt.