Tridge summary
The Australian Lot Feeders Association (ALFA) and Meat & Livestock Australia (MLA) have reported a record 1.3 million head of cattle on feed in their 2024 March quarter Lot Feeding Brief. This represents a 5% increase from the previous quarter and a 15% increase from the year before. The number of cattle in feedlots with a capacity of 0–1,000 head increased by 13%, and larger feedlots also reported growth. The quarterly turn-off of 762,000 heads was up both quarter-on-quarter and year-on-year, with Japan remaining the top market for grainfed exports, which remained steady at 84,000 tonnes in the first quarter. The supply of feeder steer cattle rose by 13% to 89,000 head, and feeder steer prices increased to 331¢/kg liveweight. Feed wheat prices have dropped by 15% to $375/tonne in Q1 2024, providing lot feeders with improving margins.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
The Australian Lot Feeders Association (ALFA) and Meat & Livestock Australia (MLA) released their 2024 March quarter Lot Feeding Brief, covering information gathered through a quarterly survey of lot feeders across the country. Survey data has revealed the number of cattle on feed has tipped 1.3 million head for the first time on record. Numbers, turn-off and capacity For the sixth consecutive quarter, numbers on feed have lifted, pushing the sector once again to record figures. Numbers on feed were up 5% on last quarter and a significant 15% on last year, reporting a total of 1,355,000 head. There was a 13% lift within feedlots with a 0–1,000 head capacity, which assisted in driving the overall lift seen in the March quarter. Producers with feedlot capabilities on-farm are taking advantage of the desirable margins from feed cattle and feed wheat prices over the first quarter. The industry also saw growth in numbers for larger feedlots (10,000+ capacity), with numbers sitting at ...
Source: Mla
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