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Cattle prices remain strong



Agricultural commodity prices continue to perform well for Australian producers with cattle prices the most compelling after the benchmark Eastern Young Cattle Indicator (EYCI) surpassed a record 900 c/kg in April.

The NAB Rural Commodities Wrap, released this week, reports trends in global grain markets point to encouraging news for Australian grain growers, while wool prices continue their upward trend.

On the back of positive signs for many commodities, the NAB Rural Commodities Index rose 2.3 per cent in April to now be 0.5 per cent higher than the same time last year.

NAB Agribusiness Economist Phin Ziebell said commodity prices remained strong despite the Australian Dollar (AUD) being on the rise following a period of very low…

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