Feeder cattle prices in Queensland and NSW increase due to rainfall, potentially signaling prolonged high prices.
Feeder cattle prices in Queensland and NSW have increased due to substantial rainfall, potentially signaling a longer period of high feeder cattle prices driven by expanded lotfeeding capacity and international grainfed beef demand. However, it could also be a short-term effect of disrupted supply. Feeder steer prices have risen 17 cents per kilogram live weight in the past week, with buyers showing interest in feeder weight heifers. The overall cattle market has improved, but concerns exist regarding US and Chinese import demand, as well as potential disruptions in US demand.
August 24, 2024
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