FEEDER cattle prices have increased in the past fortnight as numbers start to come back to the market after a quiet run of weeks.

While rain across Queensland and Northern New South Wales has seen a big restriction in supply over the past fortnight, the feeder market has not risen too dramatically in response.

Buyers who spoke to Beef Central this morning were quoting 400kg+ flatback feeder steers between 375c-385c/kg and about 380c in the south. Angus steers are trading at a 40c premium, with several 420c/kg quotes.

Prices have also increased in saleyards and on AuctionsPlus.

Meat & Livestock Australia’s saleyard-based feeder steer indicator increased 9c on the past fortnight to close last week at 385.59c/kg and today’s AuctionsPlus report listed an 11c increase on a small listing of 400kg+ steers to average 407c/kg – those numbers do not differentiate between Angus and flatback.

Lotfeeders had been booking forward prior to the big flooding event that is currently heading into Lake Eyre, with many of those cattle expected to come off wet paddocks in the next fortnight. The rain has also coincided with a run of short processing weeks, with Easter, Anzac Day and Qld labour day public holidays slowing the movement of finished bullocks out of pens.

Some are expecting a squeeze on feeder cattle supply in the next month, with widespread grass growing rain adding a new layer of competition. Many backgrounding areas have gone from destocking to planting oats, the supply of feeders from the channel country is still an unknown and there is strong competition from grassfed programs.

Cattle are starting to come back to the market in Qld, with 5800 at Dalby last week and 5600 booked into Roma tomorrow.

In the south, Wagga saw a record yarding of 7800 head with the National Livestock Reporting Service attributing the numbers to a lack of rain on the horizon and the pressure of the short processing weeks.

Feeder cattle prices remained firm at Wagga with an offering of 656 heavy feeders weighing more than 400kg averaging 386.85c/kg.

Source: MLA NLRS saleyard indicators Monday 14 April 2025.  

StoneX swaps remain steady

StoneX Australian livestock and commodities manager Ripley Atkinson said despite the recent tightening of supply, forward trading had not been pushed too much higher.

“Participants in the swap market are increasingly looking further forwards into late 2025 to embed the swap as a tool within users toolbox to lock prices in, protect margin and manage risk. Market interest extends out to December 2025 with bid/ offer spreads for the December contract sitting at 10c/kg lwt, A$3.60 bid, A$3.70 offer, which is slightly softer than current market prices for feeder cattle delivered Downs.

“Activity, out the curve in the first 6 months (April-October) are reflective of slightly softer prices than today’s spot market, with the swap continuing to trade in a tight 15c/kg lwt band through well into the second half of this year.”