Persistent dry weather conditions and foreign demand for Australian beef supported rising numbers of grain-fed cattle in feedlots, the Australian Lot Feeders Association (ALFA) reported.
The most recent survey of feedlots revealed cattle-on-feed numbers climbed 7% in September to 908,000 head of cattle. ALFA said the latest figures represent the highest cattle-on-feed numbers since December 2006, and only the third time in the history of the feedlot industry that the number exceeded 900,000 head.
Prices for yearling steers saw an 8% year-over-year increase, averaging 193 cents per kg lwt nationally.
Export figures for grain-fed beef jumped 11% to 59,581 swt in the June quarter, and 9% year-over-year. The year-to-September volume totalled 165,663 t swt, up 10% over a year ago. September quarter grain-fed beef exports to the United States increased 31% year-over-year to 4,507 t, while exports to the European Union surged 143% year-over-year to 2,838 t swt.
September quarter grain fed beef exports to China saw a 72% year-over-year decline to 1,635 t swt.
Source: The Australian Lot Feeders Association (ALFA)