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Eastern States paddock feeder steer and heifer indicators hit record highs, up 41% and 35% year on year. Competition between restockers and feeder buyers is tightening a smaller pool of young cattle, particularly in Queensland.
Supply has shifted toward younger cattle as northern regions missed rainfall.
A tight young cattle supply and strong restocker demand keep feeder cattle prices elevated, raising feedlot costs for Australian feedlots and supporting store market values.
mla.com.auNov 5, 2020After 79 past bullish weather events, FCATTLE moved a median +0.1% over 5 sessions (53% higher; middle half -1.4% to +1.7%), and +1.4% over 20.
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.
