FEEDER cattle prices have rallied in the past week, with rain across large parts of the country pulling up consignments and reducing numbers at the saleyards.

Packaderinga feedlot

While heavy feeder steers have made as high as 580-600c/kg at saleyards this morning and at the end of last week, paddock prices have stayed similar to recent weeks with a lot of yards still booked forward for three-to-four weeks.

Buyers who spoke to Beef Central this morning were quoting 400kg+ flatback feeder steers on the Darling Downs between 500-520c/kg – which is about a 10c increase on the last feeder cattle market report a fortnight ago.

Angus prices in the north have increased a bit more, with feeder steers being quoted around 570-580c/kg – which is up 20c on the past fortnight.

Beef Central was told a lot of Angus cattle going into Darling Downs feedlots are from Western Queensland at the moment after many lighter cattle were sold off dry paddocks New South Wales in recent years. Many of those cattle will no doubt be coming from the channel country, as was discussed on last week’s episode of The Week in Beef.

In the south, Angus feeder steers are similar to the past fortnight at 550-560c/kg. Most buyers said they are booked forward until the end of September, with at least one bigger yard issuing no quote.

Several feedlot operators have confirmed to Beef Central that they are now feeding cattle to go into China at the start of next year.

Saleyard prices see biggest rally

Early sales this week have continued the strong trends of last week, with a sample of 55 heavy feeder steers at Tamworth making between 518-616c/kg and 342 head at Wagga ranging between 440-582c/kg to average 550c/kg.

Similar results were seen at last week’s Dubbo saleyard, with the National Livestock Reporting Service report saying the biggest increase was for secondary types of cattle.

Meat & Livestock Australia’s saleyard-based feeder steer indicator increased 12c last week to open this week at 518c/kg. The heavier end of the indicator increased 11c to 524c/kg.

Most buyers who spoke to Beef Central this morning were putting the strong prices down to rain slowing cattle movements and some feedlots needing to bid up to fill commitments for brand programs.

Numbers contributing to the feeder steer indicator have been around 5700 in the past two weeks, which is down from more than 7000 in the two weeks before that.

There is an expectation that the market may cool down a bit in the next two weeks if the sun stays and paddocks become easier to access.

Numbers booked into the Roma saleyards tomorrow are about 1800 head higher than the past weeks, with 7300 on the draw.

More rain on the forecast this week

More rain is on the forecast this week for Victoria and South-Eastern parts of South Australia, which from all accounts will continue one of the best seasons in a long time.

This week’s system is not as big as last week’s system, but is forecast to hit areas that have been consistently getting good rain since the start of winter.