The worst may be over for Australian cattle and sheep producers as meat prices bounce after welcomed rain in part of the country to the great relief of farmers who saw prices plummet this year due to a supply glut.
The industry benchmark, the eastern young cattle indicator (EYCI), has bounced 14 per cent to $3.99 after hitting a bottom of $3.49 per kilogram in October, Meat & Livestock Australia (MLA) data shows. Lamb prices also rebounded, up 12 per cent to $4.59 per kilogram, from a low of $4.11 in September.
