Feed, soil moisture now above average in many cattle paddocks

Root zone soil moisture levels are average or above average for the vast majority of the eastern states, according to the Bureau of Meteorology's water outlook maps.

Some key cattle fattening country in western Queensland, the north western corner of NSW and north eastern South Australia is now very much above average.

Big parts of Western Australia remain below average for soil moisture, along with patches of Namoi, Hunter and Karuah River areas in NSW.

The Australian Feedbase Monitor is also now showing much of the country is average or above-average on standing dry matter indicators.

Al Rayner, manager of extension and adoption for Cibo Labs, which collates data for the AFM, said conditions for herbage mass had been very favourable across the eastern half of NSW, Queensland and much of Victoria.

The AFM shows much of North Queensland, south west NSW and southern South Australia remain well above the seasonal average for total standing dry matter.

Mr Rayner said there was plenty of green material around, with levels of green standing dry matter in much of NSW's Central West and northern areas falling comfortably in ranges of 1250 to 2000 kilograms of dry matter per hectare.

Further north into Queensland similar and higher levels extend from just south of Bundaberg to Townsville and west to Emerald.

In the southern states, Victoria reflects a range of conditions, with good levels of green dry standing matter in central regions and Gippsland but declining rapidly into the Mallee.

South Australia and much of Western Australia, however, have low levels of green standing matter.

Mr Rayner said there was less dead standing material than people expected - it had likely disappeared due to hot conditions.

Some rely on that as a feed reserve until their break comes so it's loss was a setback in places, he said.

Overall, most of the country has recorded levels of dead standing dry matter to be at or below 500kg/dm/ha.

Farm business consultant John Francis, Agrista, said the upward movement of livestock markets was clear evidence of widespread confidence in the season now.

For some, the rain could not have been more fortuitous and would equate to a massive leg-up but for others the feed it would deliver would not be fully capitalised on, he said.

"For prime lamb producers with lucerne in the system, it has been a kiss from the fairies," Mr Francis said.

"Those who held onto stock because they weren't willing to accept the low prices, then got the rain and are now cheering on the lucerne growth, will significantly increase the value of those lambs.

"They've gone from facing under $5/kg carcase weight to over $7 and they have plenty of extra kilograms as well.

"The same can be said for those who hung onto steers."

Some efforts to stock up were being restrained by cash flow, Mr Francis said.

"Higher interest rates mean producers need more cash for the same amount of capital borrowed.

"Some simply can't access the capital to stock up to the levels they want to."

For others, the lack of suitable stock on the market right now, such as spring-drop steers, will limit the benefit obtained from the rain.