ANGUS feeder cattle prices have continued to climb in the past fortnight as feedlot buyers work hard to keep pens full.

Yarranbrook feedlot near Inglewood.

Heavy Angus feeder steers have gone to 600c/kg at some southern feedlots, with quotes from southern buyers ranging between 575-600c. That market has risen 25-40c in the past fortnight.

One buyer told Beef Central that there was also strong competition for Angus feeder heifers, for which he was offering 560-570c.

In the north, Angus feeder steers had also risen about 20c, making 550-580c/kg. One large yard was not offering quotes for Angus cattle.

Flatback feeder prices on the Darling Downs have risen slightly after surging about 40c a fortnight ago. Quotes for 400kg+ flatback feeder steers ranged between 510-530c/kg, which is a 10c rise on the last feeder cattle market report.

The saleyard-based feeder steer indicator opened this week at 528c after rising 23c last week. The heavier 400kg+ end of that indicator was more expensive at 537c, which was a 21c rise on the week before.

Rain holding back numbers

There is a feeling that cattle are currently being held back as storms continue to come across most of the country, with rain in all states and territories last week.

South Australia and Victoria had the most significant falls, with handy storms still coming across parts drought-stricken parts of New South Wales.

Rain in Western Queensland has provided some disruptions to feeder cattle supply this week. There is some concern that it may damage flinders grass in the central-west, which could bring some cattle to market.

There is more rain forecast for Northern NSW and Southern Qld in the next week.

Eight day forecast from June 22.

Numbers drop at the saleyards

Early sales this week have seen numbers drop considerably on the past fortnight, with wet weather in the south hindering movements.

Wagga agents yarded 4520 head this morning, which is down 1500 head on the past fortnight. Meat & Livestock Australia’s Wagga market reporter Leann Dax said feeder steer prices ranged between 510-610c/kg.

A sample of 519 heavy 400kg+ feeder steers at Wagga averaged 580c/kg, which is up 28c on the past week.

Tamworth also had a smaller yarding, with 1490 head offered and only 105 heavy feeder steers offered. Average prices dropped 28c to 513c.kg, which a range of 470-555c/kg.

Heavy feeder prices held firm at last week’s Dubbo sale, with 142 offered at an average of 545c/kg.

Forward contracts react to feeder cattle rise

Most yards are now working on an October forward contract, which from all reports has risen 20-30c on the September contract.

Getting an exact number was difficult, but quotes for 100-day grainfed contracts for October were ranging between 880-890c/kg carcase weight.

Beef Central understands the October contract is mostly for HGP-treated cattle as October is too early to land in China when the tariff-free quota opens at the start of next year. Buyers told Beef Central that the lift in forward contract prices is mostly to accommodate the lift in feeder cattle prices, with the meat market still facing downward pressure.

There was some talk that some China programs for mid-fed (150-day) cattle were about to open up, but Beef Central was told it is still too early.