THE feeder cattle market is proving to be resilient, with most grids across the country becoming slightly dearer in the past fortnight.

Prices between northern supply areas and southern have now more or less aligned, with some larger operators offering the same prices for their Queensland, NSW and Victorian feedyards.

In a similar fashion as the recent slaughter cattle market performance, recent patchy storm rain has motivated some vendors to hold feeder cattle back a little, even if they have not received beneficial falls themselves.

ACC’s Brindley Park feedlot near Roma

Feedlot buyers who spoke to Beef Central this morning were quoting 400kg+ flatback feeder steers on the Darling Downs anywhere from 460-480c/kg, with a cluster of quotes concentrated around 465-470c – which is typically about 10c dearer than the last feeder cattle market report a fortnight ago.

Southern crossbred (no indicus content) prices are similar to the north, with quotes around 460-470c/kg, although some no-quotes were evident.

Angus prices, both north and south, are slightly dearer than the past fortnight, with quotes ranging between 490-500c/kg, with the majority at the upper end.

Most southern feed yeards say they are supplied until Christmas, with most new orders coming from existing clients.

The Angus price took the biggest hit from a price slide last month, mostly off the back of an uptick in numbers coming off oats crops and mixed farmers turning cattle off before harvest.

But one source who spoke to Beef Central this morning said a good season in Southern Victoria and the South-East corner of South Australia has brought grass-finishers into the market – who are competing with feedlots.

That same trend was reported at today’s Wagga cattle sale, with the Meat & Livestock Australia report saying that restockers were going head-to-head with feedlot buyers. The report said 696 heavy feeder steers were offered and were steady at an average of 474c/kg. Lighter feeders (330-400kg) went up by 45c to average 542c/kg.

Storm rain in Queensland appears to be putting some upward pressure on prices. Direct to processor grids have gone up and numbers have been down at the Roma saleyards for the past three weeks.

One feedlot buyer told Beef Central that the storms across Qld have not been enough to interrupt any big orders, however, they had increased confidence.

The storms have been patchy but falling in most parts of the Qld and NSW, with more on the forecast for the end of this week.

While the storms have been handy, there is a sense that many producers have not had enough rain to be into their typical wet season yet – and a hot and dry weather could change the sentiment.

MLA’s feeder steer indicator appears to be reacting to the confidence, going up 8c last week to open this week at 470c/kg. Heavy feeders were up 6c to average 471c.