NORTHERN feeder cattle grids have risen slightly in the north, with one of the first signs of widespread Spring rain starting to appear.

Buyers who spoke to Beef Central this morning were quoting 400kg+ flatback feeders steers on the Darling Downs between 510-530c/kg – which is up about 10c on the last feeder market update. Angus prices have stayed steady in the north, ranging between 540-560c/kg.

There is plenty of talk this morning about rain building across large parts of Queensland, which is expected to start coming in tomorrow. Most of the area has been drying out and are after a good break.

One buyer from a large Darling Downs feedlot told Beef Central he was trying to get a bit further forward on feeder cattle procurement, having taken the view that widespread rain across Queensland in the next week could put some more pressure on an already strong market.

Southern buyers booked a long way forward

Some southern buyers told Beef Central this morning that they were booked forward until December and at least one said they were only taking bookings for space, with price to be negotiated closer to settlement.

Another feedlot buyer said he was taking bookings for Angus cattle in November delivery at 530c/kg and getting plenty of numbers.

The market for southern feeder cattle is similar to the last feeder cattle market report, with Angus prices ranging between 530-540c/kg and British cross (no indicus) ranging between 500-520c/kg.

Beef Central was told that some suppliers are taking up the space only bookings with concerns that some steers will get too heavy after a big season. However, the panic that was evident has eased off after recent rain in Victoria and South Australia.

Suppliers are booking spots, because they’re worried steers will get too heavy, but the ‘panic’ that was evident a couple of weeks ago is now gone, due to VIC rain.

Are Queensland numbers starting to slow?

The supply of cattle in the north has not been as abundant as in the south, with some thinking that the spring flush of cattle is starting to run out.

As was mentioned on The Week in Beef podcast last week, a lot of that will be dependent on rain in the coming months – with operators at the Morven spelling yards expecting to be busy if it stays dry. There is also this rain forecast this week.

One buyer said the quality of cattle has dropped and weight has dropped, which he said was typical for this time of year.

There is also plenty of demand for cattle to go into China at the start of next year when the tariff-free quota opens back up. Beef Central was told this morning that plenty of HGP-free cattle are entering yards to go into that market. Although they are now wary of not leaving China eligible inductions ‘too late’, because China quota will fill rapidly in 2027.

Saleyard prices staying steady

Saleyard prices have been steady in the past week according to Meat & Livestock Australia’s feeder steer indicator.

It opened this week at 490c/kg, which is down 3c on the week before, and the 400kg+ section opened at 510c/kg – which is also down 3c.

Prices were also steady at this morning’s Wagga cattle sale, with 446 head offered and an average of 519c/kg.

Quilty revises up feeder cattle forecasts for next year

Well-known market analyst Simon Quilty, from Global Agritrends, has revised up a prediction of feeder cattle prices to have a strong rally next year.

Earlier this year, he was predicting flatback prices to go 620c/kg or higher by October next year.

He told a forum in Cloncurry last week that he had flatbacks going to 650c/kg by June/July next year and Brahman feeders going to 580c/kg or even 590c/kg.

Mr Quilty said he was expecting F1 Wagyu to go to 850c/kg next year and Angus feeder steers to go to 750c/kg.

• See today’s separate story on the price predictions.