FSR signals herd growth continues

Market Morsel

The release of the Australian Bureau of Statistics cattle slaughter numbers to the December 2022 quarter allows us to measure the female slaughter ratio for the 2022 season and get a feeling for how the current herd rebuild is tracking. The FSR for Q4 2022 dipped slightly from 43.8% in Q3 to 42.1% signalling the producer intent to rebuild remains firm.

An FSR of 42.1% in Q4 brings the annual average FSR for 2022 to 42.8%, still well and truly under the 47% threshold that denotes herd rebuild (below 47%) or liquidation (above 47%).