Beef Cattle Feedlots in Australia - Industry Market Research Report

Rounding &Lsquo;Em Up: Rising Global Beef Consumption is Driving Revenue Increases

Revenue for beef cattle lotfeeders is expected to grow at an average annual 3.7% over the five years through 2023-24, to reach an estimated $7.0 billion. Rising global beef consumption and increasing disposable incomes in developing countries, which have allowed consumers to purchase greater quantities of beef, have supported demand for Australian beef over the past five years. Consequently, export markets have become increasingly important for lotfeeders, contributing to revenue growth. However, the domestic market remains the largest market for grain-fed beef produced in Australia. Major domestic customers, particularly the national supermarket chains, have remained important. High over-the-hook prices and cattle turn-off rates have stimulated revenue growth. The number of cattle on feed reached record levels in the March quarter of 2022. Saleyard prices are anticipated to fall in 2023-24. However, turn-off rates are expected to rise, causing revenue to climb an estimated 2.2%. Profitability has fallen slightly over the five years through 2023-24 due to rising input costs. Industry firms primarily operate feedlots for beef cattle. A feedlot is a confined yard area with watering and feeding facilities where cattle are completely hand or mechanically fed for the purpose of beef production. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.