Australian feedlots closed the June quarter with a new record of 1.66 million head on feed, up 30,000 head or 1.8% on the previous quarter and 81,000 head above the same period last year. National feedlot capacity also hit a new high of 1.795 million head, while utilization held at 92.5%, near the practical ceiling for commercial operations given pen cleaning, maintenance and other requirements.
National turn-off reached a record 1.05 million head in the quarter, up 17.5% year on year. MLA senior market information analyst Emiliano Diaz said grainfed beef exports totaled 121,750t in the June quarter, the largest June quarter volume on record and 7.7% above the same period last year, with growth in Japan and South Korea more than offsetting the disruption in China.
Grainfed exports to China fell 16% over the quarter to 35,884t and collapsed 69% year on year in July to just 5,041t as the 55% tariff took full effect. South Korea absorbed much of the redirected volume, with exports up 29% to 25,027t, while Japan rose 21% to 32,656t.
On the domestic side, tighter feeder cattle supplies pushed prices higher, with the Feeder Steer Indicator up 2.5% to A$ 485 ¢/kg liveweight and the Feeder Heifer Indicator rising 4.7% to 439 ¢/kg liveweight.
Source: Befe Central/ALFA/MLA
