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Feeder steer prices in eastern and southern Australia rose sharply over the past fortnight, with Queensland flatback feeders trading around 360-365c/kg and Angus paddock sales at 400-410c/kg. The NLRS feeder steer indicator reached 363.4c/kg, the highest since April 2023, as southern supply dried up.
Tight Australian feeder supply and firm demand lift cattle input costs for feedlots, which can support demand for grain and feed ingredients in the region.
beefcentral.comJon CondonJul 31, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
