Feedlots have continued to drive the young cattle market during early September, with considerably more cattle being purchased compared to this time last year, Meat and Livestock Australia reports.
MLA says that despite national young cattle numbers for the first half of September tightening 12pc year-on-year, feeder buyers secured 34pc of the national yearling cattle offered.
Feedlots captured 36pc more yearling steers and 25pc more heifers compared with the corresponding period last year, despite the sluggish export demand and a rising Aussie dollar.
However, offsetting the increased yearling purchases was a decline in vealer numbers going to feedlots, with vealer steers and heifers back 6pc and 7pc, respectively.
While grown steer numbers purchased by feeders held firm on the same period last year, total yardings were back 23pc, MLA reports.
However, MLA says a major boost for the feedlot sector has been the cheap cost of grain in the market compared with last year.