Key cattle price indicator breaks $10 per kilo barrier, yet beef prices look set to 'explode' further
ABC Rural
/ By David Claughton and Nathan Morris
Posted 2h ago
At his shop, a piece of rib eye will set you back at least $70/kg and
beef sausages and mince are over $15/kg.
Beef prices have "exploded", according to one butcher, as the Eastern Young Cattle Indicator (EYCI) breaks through the $10 per kilogram barrier, up a massive 150 per cent in just two years.
Key points:
The Eastern Young Cattle Indicator breaks $10/kg barrier
Record sale yard prices are expected to flow through to retail
Sellers are happy but processors are losing money
The record high price of cattle in saleyards is pushing up the price of beef in shops, with prime cuts selling for $70/kg while even mince is getting dearer.
Retailers say it is unsustainable, but prices are not likely to change for a few years until the national herd grows.
Toowoomba butcher Ted Ellison standing in his shop with meat all around
Toowoomba butcher Ted Ellison has noticed his customers picking cheaper cuts as premium beef hits $70/kg.(
ABC Rural: Nathan Morris)
Butcher Ted Ellison, who runs a boutique drive-through shop in Toowoomba, said he is seeing more of his customers buying cheaper cuts of beef and mince.
"It's gone from that premium line back into your mince and sausages and your basic cuts, making mince go further," he said.
At his shop, a piece of rib eye will set you back at least $70/kg and beef sausages and mince are over $15/kg.
He is finding it hard to keep prices down when the cost of the carcass is so high.
