Market Morsel: Lowest in a decade

Market Morsel

The Female Slaughter Ratio (FSR) for the first quarter of 2022 has come in at 40.9%, which is the lowest quarterly figure for this ratio seen since December 2011, when it dipped to 39.8%.  During the entire 2011 season the FSR averaged 43% and the Australian cattle herd grew by 7.4% over that year.

Meat and Livestock Australia are forecasting an increase to the herd of 4.2% for 2022, but if the FSR can remain this low for the rest of the year we may see a stronger rebuild occur. In analysis released in March 2022 we modelled the likely level for the FSR for the first quarter of 2022 and this suggested we were sitting below 41%. The ABS data released this week confirms the strength of the current herd rebuild phase with the quarterly FSR coming in at 40.9%, down from 42.9% in the final quarter of 2021.