Keeping a keen eye on cattle prices at Bellata

That’s the sentiment of Bellata feedlot operator Ian MacCue who said the rate of growth of pasture and oats, particularly on the plains, would determine demand and therefore how much prices increase.

“In another six weeks we’ll be looking for cattle to put a bit of weight on in the paddock and lessen the cost of putting them into the feedlot,” Mr MacCue said.

Mr MacCue and his family run the 1200-head capacity Wilga Feedlot at Bellata, finishing stock mainly for the domestic market.

He said the queue for stock entering the feedlot was six to eight weeks, half of which were custom feeding jobs, and the remainder would be purchased by Wilga Feedlot.

The MacCues have kept an eye on the weaner sales and noted a 10 to 15 cents a kilogram rise at Casino last week.

Mr MacCue expects prices to rise to at least 200c/kg, if not further, given some areas will have feed grown before the frosts hit, but also because of the high number of females which have been processed and lost from the system.

“I think there’s going to be a shortage of cattle because so many have been sold,” he said.

“When you see the number of females go through our feedlot you think: ‘Where are they going to come from next year?’”

He said cattle prices had been too low for too long and hoped Meat and Livestock Australia’s predictions of rising prices came to fruition soon.

“We’re getting the same price for our cattle today as we were 10 to 15 years ago – the farmgate price has not altered,” Mr MacCue said.

Meanwhile, other commodities had risen, with wheat alone increasing about $50 a tonne to $330/t to $340/t plus freight since January.

Cotton seed was about $440/t to $450/t (without a contract) and cotton seed hulls and molasses were unprocurable.

The catch for producers, meanwhile, would be whether they had enough cattle to take advantage of improving prices.