CATTLE numbers on feed across the Australian grainfed beef industry have set a new record, with the December quarter feedlot survey showing just short of 1.3 million head.

The result (1,294,531 head, to be exact) was up more than 36,000 head or three percent from the September quarter, and almost 150,000 head more than this time last year.

Feeding capacity also set a new record in December.

While numbers on feed in NSW, SA, and WA surged, Queensland and Victorian figures declined over the quarter. Dry conditions had already pushed more Queensland cattle into feedyards during the September quarter.

Numbers on feed in NSW, SA and WA rose by 7.3pc, 14.7pc and 92.6pc respectively, while Queensland and Victorian numbers eased by 3.1pc and 2.2pc, respectively.

Queensland continues to dominate national lotfeeding activity, with the December figure (750,246 head) accounting for 58pc of the national total. The state’s December figure was 11pc higher than the same time last year.

New South Wales numbers on feed reached a new record high in December of 372,708 head, more than 25,000 head or 7pc higher than September, and 54,000 head or 17pc higher than this time last year.   See table below, and graph of historic numbers on feed 1997-2023 at bottom of page.

Capacity hits new record

As illustrated in Beef Central’s Top 25 Lotfeeders report published last year, feedlot capacity continues to grow across the country – principally through expansion in existing feedyards. Growth in areas other than the ‘traditional’ Australian lotfeeding zones of southern Queensland and northern NSW was a key feature. Click here to access.

National lotfeeding capacity in the December quarter rose by 1.1pc to a new record 1.594 million head, with utilisation rates (the number of cattle on feed versus capacity) increasing to 81.2pc in December, driven by a fifth consecutive lift in feedlot capacity.

The quarterly survey is produced by the Australian Lot Feeders Association and Meat & Livestock Australia.

ALFA president Barb Madden said the lift in numbers on feed was reflective of the availability of feeder cattle during late spring and early summer 2023.

“Adjustments in numbers seen in WA reflect the seasonal nature of the western lot feeding cycle, which traditionally peak in the first and last quarter of the year,” Mrs Madden said.

Export growth

MLA’s senior market information analyst Erin Lukey said grainfed export figures finished positively to close out the year.

Quarter-on-quarter exports were up 18pc year-on-year, helping to achieve an 8pc lift in 2023 calendar year grainfed meat export volume, Ms Lukey said.

“It is encouraging to see grainfed exports grow over the year with exports relatively stable in the first half, then lifting in in the latter part of the year during Q3 and Q4.”

Looking to supply, feedlot cattle buyers were met with a sustained supply of (cheaper) feeder cattle into the last quarter of 2023.

While the majority of feeder cattle are bought out of the paddock rather than via saleyards, supply of feeder cattle through saleyards dipped by 0.9pc in the fourth quarter. Annual saleyards throughput of feeder cattle was up 9pc in 2023.

“The largest lift in supply was seen through NSW and WA where annual feeder saleyards throughput lifted 32pc and 21pc respectively, which reflects the increased numbers on feed in these states,” Ms Lukey said.

Grainfed cattle (GF cipher) turnoff during the December quarter reached 668,613 head. While the grainfed turnoff quarterly figure has been trending higher over the longer term, the December figure is nowhere near the record highs of December 2018 (848,999 head) and June 2019 (790,996 head) recorded during the last drought cycle.

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Source: MLA, with additional reporting