Feeder Cattle Market Under Pressure from Frosts and High Numbers

The feeder cattle market is experiencing downward pressure across the board due to frosts and high numbers continuing to flow out of the north.

Prices have dropped by around 20c/kg for heavy flatback feeder steers going to feedlots on the Darling Downs, quoted between 510-540c/kg. Angus feeder steer prices have also taken a hit, with market sources quoting between 560-600c/kg in the south.

Meat & Livestock Australia's saleyard-based feeder steer indicator dropped 20c last week to 514c/kg and the 400kg+ side of the indicator dropped 17c to 531c/kg. One large multi-site lotfeeder was quoting 560c/kg for Angus steers in the north.

A rain system is predicted for the south-east corner of South Australia, Victoria, Tasmania, and Southern NSW this weekend, which could put upward pressure on prices if it materialises.