We’re back on the grain gang
The Snapshot
- The March 2022 quarterly cattle on feed report shows that feedlot numbers have reached an all time high of 1.269 million head.
- Nationally, cattle on feed (COF) numbers increased by 9.5% from the previous quarter.
- The capacity utilisation ratio increased from 80% to 85%, the highest seen since December 2019 when it touched 90%.
- The ratio of grain fed to grass fed has lifted from 50.2% in the final quarter of 2021 to 55.6% for the first quarter of 2022.
The Detail
The release of March 2022 quarterly cattle on feed report shows that feedlot numbers have reached an all time high of 1.269 million head, eclipsing the 1.239 million head seen in the December quarter of 2019. Bearing in mind the 2019 season was in the thick of the most recent drought, so to see such large numbers in the feedlot when pasture remains plentiful around the country at present is a real show of confidence for the feedlot sector.
Nationally, cattle on feed (COF) numbers increased by 9.5% from the previous quarter. Queensland saw COF lift by 8.5% over the quarter and Victoria also managed a respectable 13.1% gain. However, the biggest percentage jump was reserved for WA with an 82.7% jump on their December 2021 volumes, albeit off of a relatively low base of just 40,193 head.
Feedlot capacity across the country lifted to the highest on record too, hitting 1.486 million head and the national capacity utilisation ratio increased from 80% to 85%, the highest seen since December 2019 when it touched 90%.
Nationally, cattle marketings increased 2.2% from the final quarter of 2021 to reach 742,323 head for the March quarter of 2022. Considering that ABS cattle slaughter for the first quarter of 2022 came in at 1,335,400 head, this leaves 593,077 head as the total for grass fed cattle turnoff. The ratio of grain fed to grass fed has lifted from 50.2% in the final quarter of 2021 to 55.6% for the first quarter of 2022.