Cattle numbers on feed lift in latest figures

A tightening in seasonal conditions has seen feedlot numbers rise significantly. See the latest figures here.

Near record numbers of cattle on feed have been recorded across Australia as feedlotters take advantage of cheaper buy-in prices for stock.

There was a 8.5 per cent lift in cattle in feedlots at the end of June compared to the previous quarter, with 1.26 million, boosted by increased lot feeding in Queensland and South Australia.

The figure would have been even higher, but for a fall in feedlot numbers in Victoria, NSW and Western Australia.

Australian Lot Feeders Association president Barb Madden said the numbers in the June quarter were the second highest ever.

Feedlot numbers are near a record-high. Picture: Zoe Phillips

“Despite input cost pressures and an uncertain economic outlook, high utilisation rates demonstrate continued demand for grain fed beef and confidence in the feedlot production system,” Mrs Madden said.

The number of cattle turned off from feedlots was up the March quarter and 3 per cent higher than the same time last year. This year, 688,544 cattle were sold from feedlots in the March-June period, compared to 667,542 in the same time frame last year.

Queensland holds the mantle for the biggest feedlot numbers at 758,080, followed by NSW with 337,524 at the end of June.

And while feedlots may be able to access cattle cheaper at the moment (the national feeder steer indicator was 313c/kg liveweight earlier this week, 154c/kg lower than a year ago), rising grain costs would influence viability.

Meat and Livestock Australia global supply analyst Tim Jackson said while grain prices sat at record levels and had been since the start of 2022, they were internationally competitive. “Even though feed prices have been rising, the relative price advantage will assist Australia’s position in international markets.”

Mr Jackson said there were also promising signs for grain fed beef, even though major customer Japan was taking less.

“Grain fed beef exports strengthened by 8 per cent from the March quarter, and strong demand from China and South Korea are balancing softer exports in Japan,” he said.

Australia has the capacity to feed even more cattle, with the national capacity at 1.56 million head. The increase in cattle on feed from April to June boosted the utilisation rate of Australian feedlots from 74 per cent in the March quarter to 81 per cent in the June quarter.