Feedlot demand pushes feeder steer prices to highest level in four years

 

Steers-HillstonDespite having the lowest throughput in four years, prices of EYCI cattle have doubled in that time, revealing the total gross value spend of EYCI cattle was actually highest in 2021. This further accentuates the strength of the young cattle market.

Feeder steer throughput has remained relatively steady across the four years, with 2021 still above 2019 and 2020 levels, highlighting the consistency of feedlots to secure cattle.

This sentiment is furthered by feedlots’ continued demand for young cattle at the saleyard, evidenced by lot feeders buying more EYCI cattle currently. Similarly with the EYCI, prices for feeder steers have risen high enough to propel the 2021 gross value to the highest level in four years.

Cow (420kg+) throughput has declined dramatically in 2021 where historically this category features heavily at the saleyard, due to rebuilding on-farm. Throughput has nearly halved since 2018 on the back of culling of productive cows during the drought.

While prices have lifted significantly, the decline in throughput hasn’t been enough to offset gross value, leaving 2021 as the lowest in four years.

Heavy steers (500kg+) have seen higher throughput this year than in 2019 and 2020, similar to that of feeder steers. Prices have also risen enough for the gross value to be the highest of the four years in 2021, highlighting the dependency on the feedlot sector to produce heavy animals.

https://www.mla.com.au/news-and-events/industry-news/cattle-supplys-state-of-play/#

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