Cattle prices ease as feedlots, restockers navigate heavy rain

Some northern parts of the state have received a year's worth of rain in a little more than a month, while southern sections of Victoria are yet to experience enough warm weather to significantly bolster pasture growth.

With less than two weeks until summer, there is a general belief among industry veterans that wet weather could deter many people from buying cattle, including restockers and feedlots, until at least the end of the year.

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One major feedlot buyer was absent from Leongatha's fortnightly store cattle sale at the Victorian Livestock Exchange on Friday, causing feeder cattle prices to ease across the board.

"Charlton Feedlot weren't there due to the wet conditions and regular rain events," Nutrien South Gippsland Livestock manager Brian McCormack, Leongatha, said.

The partial redevelopment of the VLE, which includes the expansion of selling pens, has prompted South Gippsland agents to move to a weekly store cattle sale.

Mr McCormack said the decision to move away from fortnightly markets would last sometime, but wet weather was affecting the buyer support on saleyard rails across the state.

"Everywhere is wet and from a selling point of view, people are selling because it's too wet and people who are buying are reluctant to buy too many because of how wet it is," he said.

"Water is laying in a lot of places and that grass is going to start rotting so we're yet to know what impact that will have on crops or when cattle will be right to return, especially in the central and northern areas."

Elders territory sales manager Oliver Mason, Wangaratta and Albury, NSW, said heavy rainfall had made it challenging for farmers.

"There's some very trying conditions and all of the farmers' river flats are out of action," he said.

"Producers have been forced to move cattle to higher ground which unfortunately has overstocked that country.

"This time of year we traditionally run a very high stocking rate but we can't get access to a lot of that land due to the damage the floods have caused."

Northern prime and feeder markets have also experienced a correction as many abattoirs have locked in their beef supply until Christmas and beyond.

Meanwhile, access to hay and fodder is also presenting challenges for feedlotters.

The wet weather is also a partial driver to Australia's largest prime cattle selling week since February 2021, with more than 56,700 cattle sold across the country last week.

Meat & Livestock Australia senior market information analyst Ripley Atkinson said a combination of mostly weather-related factors drove the increased volume.

"Some farmers couldn't get cattle off farm the week before last and the ability for producers to even muster cattle was limited," he said.

"With the forecast of more wet weather, producers saw an opportunity to sell while they could muster and get cattle to the saleyards.

"We're also starting to see an increase in the number of cattle coming into the system on the back of the spring and autumn calves, as well as cattle at feeder or processor weights."

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