Aussie beef prices to fall, but will remain historically high

Cattle prices are expected to fall marginally in 2020–21 to average 513 cents per kilogram. This reflects higher global beef supply and a weaker demand outlook as a result of the COVID-19 pandemic.

The Eastern Young Cattle Indicator (EYCI) reached a record high of 767 cents per kilogram in March, and broke the record again in June when it reached 772 cents per kilogram. In the 5 years to 2019, the average was 549 cents per kilogram.