Cattle numbers on feed still rising, but only moderately

The latest figures from the feedlot survey conducted by the Australian Lot Feeders' Association and Meat & Livestock Australia show numbers on feed in NSW, South Australia and Western Australia rose by 7.3 per cent, 14.7pc and 92.6pc respectively.

Queensland and Victorian numbers dropped 3.1pc and 2.2pc.

ALFA president Barb Madden said lifts to numbers on feed were reflective of the availability of feeder cattle during late spring and early summer 2023.

"Adjustments seen in WA reflect the seasonal nature of the western lot feeding system, which traditionally peaks in the first and last quarter of the year," Mrs Madden said.

National capacity increased by 1.1pc to 1.59 million head. Utilisation rates rose by 1pc to 81.2pc.

This is the fifth consecutive lift to feedlot capacity, leading to record capacity for the sector.

Erin Lukey, MLA's senior market information analyst, said grainfed export figures finished positively to close out the year.

"We've seen quarter-on-quarter exports up 18pc year-on-year, helping to achieve an 8pc lift in 2023 calendar year grain fed meat export volume," Ms Lukey said.

Feedlot cattle buyers were met with a sustained supply of feeder cattle into the last quarter of 2023.

"Despite supply of feeder cattle through saleyards dipping by 0.9pc in Q4, annual throughput was up 9pc in 2023," Ms Lukey said.

"The largest lift in supply was seen through NSW and WA where annual feeder throughput lifted 32pc and 21pc respectively, which reflects the increased numbers on feed in these states."