The southern dry is influencing feeder cattle trade dynamics this month as another delayed autumn break forces more producers to offload ahead of winter.

Quoted prices for paddock-purchased feeders have not changed substantially in the past fortnight, but delivery dates have pushed further out with the large numbers of cattle being pushed toward the market by weather.

One large supply chain told Beef Central it is not quoting on feeder steers in its northern business this week, the first time that has happened this year, while most buyers across eastern Australia said they are now out to early to mid-June delivery dates.

Paddock rates for 400kg+ flatback steers in southern Queensland/northern NSW have held largely firm in the 375-385c/kg range since Easter, according to feedlot sector buyers. In the south, British crosses are this week priced at 395c/kg.

More variation was evident in reported quotes for 400kg+ Angus feeders, in the north ranging from as low as 405c in one case to 420-440c across the broad range of sources contracted, and 430c in the south.

The huge numbers flowing forward as the southern dry again bares its teeth in the approach to winter have been reflected in big southern saleyard numbers, for example at Wagga which yarded almost 9000 head last Monday followed by more than 10,000 head at today’s weekly sale, with some thousands of head reportedly unable to be added to the sale due to lack of space.

Friday’s AuctionsPlus sale saw another 26,800 head offered, the fourth largest listing in the platform’s history, and followed an even larger offering the week before.

Meat & Livestock Australia’s saleyard-based feeder steer indicators were largely lower this week (see table below).

Source: MLA NLRS saleyard indicators Monday 12 May 2025.  

Peter Daniel from Grant Daniel Long said there was a strong supply of feeder cattle coming forward, both as southern producers offloaded as they ran out of time for an autumn break, and as more cattle from western Queensland began moving.

“Where a lot of that western rain was, it had been very dry, and we’re still catching up from the short weekends,” he told Beef Central. “With all the wet weather, we are still taking delivery of cattle we’ve had booked for a month or so you know, so there is a little bit of bottleneck there.”

“We’re also starting to see the regular after-Easter numbers of weaners, this year’s weaners, coming into Roma and Dalby, so they have all just started, and we will see them through to the end of July.”

While there were good numbers coming through, feedlot expansions also meant larger numbers were needed.

“We need plenty too, all these feedlots have expanded, some have doubled and some have tripled from where they were.”

Forward market ‘developing well’

StoneX Australian livestock and commodities manager Ripley Atkinson said the forwarding market is “developing well”.

“As the spot market has risen, so have forward bids and offers on the StoneX Feeder Cattle Swap.

“Trade continues to develop well into the second half of the year, with trades placed out to December 2025.

“The forward curve bids and offers reflect relative stability in the market with no major indications of shifts either in a rally or softer as 2025 progresses.

“Trading interest has built strongly following the resumption of normal working weeks as the sector moves beyond a disrupted April.”