Weekly Cattle Market Update

Among larger lines offered this week, 252 unweaned Angus heifers sold from Tenterfield, NSW,
weighing between 318kg and 361kg at prices ranging from 515-572c/kg.

In the latest report, AuctionsPlus cattle listings reached a total of 15,420 head, marking a 9% increase from the previous week. However, clearance rates experienced a significant drop, settling at 61%.

This decline in clearance rates can be attributed to vendor reserves not aligning with prevailing market expectations, as noted by AuctionsPlus (A+). This is an unexpected trend, particularly against the backdrop of rising prices. The breeding stock category felt the brunt of this misalignment, with only 30% of offerings being sold. In contrast, heifers and steers fared better with clearance rates of 69% and 70% respectively.

Notably, most heifer categories and breeding females saw price increases, while the results for steers remained mixed.

Regional Offerings

Regional listings varied significantly across Australia. New South Wales (NSW) continued to dominate, offering 8,250 head, an increase of 1,552 head from the previous week. Meanwhile, Queensland saw a drop of 1,427 listings, totaling 4,025 head. Victoria experienced a rise of 611 head, bringing its total to 2,340.

On the purchasing front, NSW was again the leader, acquiring 5,044 head. Queensland’s buying activity diminished to 2,327, while Victoria’s purchasing numbers remained stable compared to last week.

Steer and Heifer Performance

Steers in the 280-330kg category witnessed a price increase of 21c/kg, averaging 457c/kg, although only 56% of the available 2,544 head were cleared. On the higher weight end, heavy steers (over 400kg) gained 11c/kg to average 425c, clearing a commendable 97% of 450 head.

Conversely, lighter steers (weighing 200-280kg) saw a decrease of 18c/kg, averaging 456c with an 85% clearance on 2,500 head. Similarly, those in the 330–400kg category dropped by 10c, averaging 429c.

A noteworthy line of 116 Angus steers, aged 9-10 months and averaging 271kg from Colac, Victoria, fetched 480c/kg or $1,300/head, destined for a buyer in Apsley, Victoria.

Heifers largely experienced stronger outcomes this week. An offering of 1,160 heifers in the 280–330kg category cleared 69%, with prices climbing 45c to average 407c. Heifers in the 200–280kg range gained 15c to average 379c, but only 59% were sold.

From St George, NSW, a batch of 96 Hereford heifers, aged 17-19 months and weighing an average of 383kg, returned $1,460/head, or 382c/kg, and will head to a buyer near Quirindi, NSW.

Breeding Females

The breeding females sector saw significant price recovery across most categories following some considerable declines the previous week.

Among the more prominent categories, PTIC heifers managed to clear only 16% of a total offering of 1,300 but for those who were sold, prices surged by $166 to average $1,748. The situation for 1,700 PTIC cows was similar, clearing only 39% and showing a price increase of $199 to average $1,849.

These results indicate that even amid a rising market, vendor and agent expectations may be out of sync with buyer behavior.

Among the noteworthy sales, 24 Angus cows, aged 5 years and averaging 483kg, from Rylstone, NSW, were sold for $2,250/head, destined for a buyer near Dubbo, NSW. Additionally, 255 PTIC Angus cows, 6-7 years old and weighing between 530-540kg from Greg Greg in the NSW Riverina, commanded $2,000/head.

Source: AuctionsPlus