The Australian Lot Feeders' Association and Meat & Livestock Australia have released data showing that Australia's cattle on feed has remained above 1 million head for the 20th quarter in a row. The December 2022 quarter saw a total of 1,145,228 cattle on feed, an increase of 89,172 from the previous quarter. Each state also recorded increases in cattle on feed. Despite challenges such as high labour and energy costs, and a weak global economic outlook, the feedlot industry has seen record growth, with national capacity hitting 1.532 million head in 2022, a new industry record. Feedlot utilisation rates also improved in late 2022, lifting by 5% to 75%.