LOTFEEDERS are making themselves increasingly known in the cattle market as the reality of how tight supply will be this season sinks in.
Despite contending with an unexpected strong rally in grain prices this year courtesy of global demand dynamics, and a young cattle market that won’t budge from record territory, feedlot operators with contractual export relationships weighing on their minds appear to now be shifting into a higher gear in terms of sourcing.
Reports from Victorian saleyards in the past week are that feedlot buyers from far afield drove the market to exceptional levels.
Lighter 300 to 400 kilogram cattle at Ballarat sold in the 500-520 cents per kilogram range, while those above 400kg made 480-520c/kg.
Agents reported a…