Matt Dalgleish
Cattle restockers awaken
There has been some sentiment shift in cattle markets, and as usual it’s more to do with the weather than anything else. Restockers are back in the...
There was a very slight increase to cattle on feed numbers over the September quarter in 2023, according to the ALFA feedlot report. Cattle on feed lift by just 0.1% to the second highest volumes on record at 1,258,377 head.
Meanwhile national feedlot capacity increased by 1.4% over the quarter to 1,576,858 head, pushing the feedlot utilisation ratio from 81% during the June quarter to 80% presently.
The seasonal pattern for COF volumes highlights the steady nature of the industry currently with feedlot numbers holding steady. Compared to the five-year average levels for the September quarter the current COF numbers are running nearly 16% above the September average. Assisting the steady cattle volumes in feedlots presently was the reduced marketing over the September quarter.
Feedlot turnoff over the September 2023 quarter declined by 10.2% from the levels marketed in June to see just 618,017 head of cattle turned off. Compared to September quarter 2022 turnoff volumes are down by 13.4% this season and 14.4% lower than the average September turnoff based on the last five years.
Safeguard quota tariffs: What happens to global beef trade when the trigger is pulled?
At Monday's Elders national livestock hookup, one of the agents asked what to expect from other beef-supplying nations once safeguard quota tariffs...
Reality check: the other side of the cattle price story
Reading some headlines on the future of cattle prices from a well noted analysts in one of my regular subscriptions I couldn't help but shake my head.