WHAT a difference a fortnight can make in the cattle markets.

Rain, and lots of it, right across the eastern states in recent weeks and in the Top End a month or two ago has made all the difference to cattle prices and throughput.

The Eastern Young Cattle Indicator closed on Monday at 351c/kg - the highest level in 17 months - and 22c/kg better than a fortnight ago.

Young cattle prices have lifted in the store and prime markets, as rain has caused buyers to search for cattle with fewer entering the market.

In Victoria, year-on-year yardings are down about 15 per cent compared to last year and slaughter figures for February are down 13 per cent.

However, while prime cattle prices - and store prices at the annual mountain calf sales last week - are increasing quickly, is this enough? Or is it that prices have been so low that the current gains look good by comparison.

Well, plenty seem to think it is worthwhile securing young cattle at current rates with almost 3000 of the 8650 calves sold in the mountains last week heading north of the Murray River. Admittedly this was fewer than some predicted.

It was a similar story at the Mt Gambier store sale in South Australia last week, where more than half the yarding - or 1000 head - were snapped up by Kidman & Co, which is looking to re-stock its northern South Australian properties at Anna Creek and Oodnadatta with a reported 12,000 head.

And while the rain has given restockers confidence, National Livestock Reporting Service manager Travis Parsci questioned the stability of the current market.

"We are waiting for the market to stabilise," he said.

However, all indicators are currently tracking above this time last year, and many believe the prices have edged up about four to six weeks earlier than the usual early autumn lift.

"The biggest change we have seen in Victoria is with Jap Ox which are 20c/kg above this time last year," Mr Parsci said

Jap Ox is currently commanding about 181c/kg, compared to 161c/kg this time last year. "And this will hopefully flow into trade-weight steers, and see the feeders step up," Mr Parsci said.

"We are also starting to see some demand from the export market, which may underpin the strength we have seen at the mountain calf sales last week."

Trade and feeder steers are also up about 20c/kg compared to this time last year, and both have seen 5-10c/kg increases over the past fortnight.

Restockers flush with grass are looking to put cattle back into the paddock in southern Australia, with store and prime cattle prices keeping pace with each other.