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The week in review 17/02/12
- As the flow-on effects of the recent heavy rain and flooding across Queensland and northern NSW continues to influence the cattle market, lamb prices have eased again this week, reflective of a drier start to the year in the southern states. The EYCI finished Thursday at 390¢, down 3¢ on last week.
- With parts of southern Australia registering a drier start to 2012, lamb producers have responded by increasing turnoff, with many also carrying larger numbers than in previous years.
- Trade lambs nationally averaged 463¢/kg cwt, while heavy lambs slipped 6¢, to average 445¢/kg cwt.
- With the flow of cattle anticipated to increase in coming weeks, attention remains firmly fixed upon the A$ and export demand. One key factor to note this week was a new record high imported 90CL beef price to the US, hitting 208US¢/lb – highlighting the sustained strong US and global demand for lower price beef items.
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