Australia northern feeder cattle: Price up

Market: Agriculture
28/10/21

The Australian northern cattle feeder price rose this week to 508 AUS ¢/kg liveweight, after reaching the A¢500/kg threshold last week.

Feeder cattle supply was tight, as farmers kept cattle on grass and crops that are in ample supply in many regions, following above average rainfall. Some buyers loosened their specifications to ensure that they got the volumes they needed, even if it meant increasing the tropical breed content to 100pc, while buyers who kept their specifications unchanged had to increase their bids to secure volumes.

Some feedlots secured a 10¢ increase for February delivery of mature cattle to abattoirs, but that was instantly offset by the feeder steer price rise. Australian supermarkets Woolworths and Coles reportedly increased their price levels for lower weight steers, feeding through to the heavier markets, and major feedlot and processor JBS reportedly increased its grids.

Supply continues to be tight and rain has reduced the prospects of a flush of cattle easing the shortage as is typically seen in November, while the weather heats up in the north and west. Feedlotters hope that a bumper grain harvest may see that cost reduced as they seek to manage tight margins.

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