Market Update: Cattle Prices React to Ongoing Drought Conditions

These 108 Droughtmaster feeder steers, weighing 375kg and aged 10-15 months, from Bollon in southern Queensland sold for 423c/kg this morning.

In the latest week of trading on AuctionsPlus, cattle prices have dipped significantly across steer and heifer categories. The ongoing dry conditions in various regions have contributed to this downturn, resulting in notable double-digit falls in price per kilogram.

Steer Listings and Price Movements

This week saw a 10% decline in cattle listings, totaling 22,598 head, with clearance rates softening to just 49%. This marks a decrease of 24 percentage points compared to the previous week, largely due to increased buyer resistance to vendor price expectations.

Steers represented the bulk of listings, experiencing lower prices across most weight categories:

• Steers 200-280kg: 4,865 head offered, 57% clearance, averaging 471c/kg after a significant correction of 43c.
• Steers 280-330kg: 2,590 head offered, 45% clearance, averaging 480c, down 16c.
• Steers 330-400kg: 1,357 head offered, two-thirds clearance, average price of 472c, down 19c.
• Over 400kg: Only 276 head offered, with most clearing at an average of 496c, down 21c.

Noteworthy sales included:

• 45 Angus steers, 7-9 months old, averaging 185kg from Holbrook, NSW, sold for 590c/kg.
• 64 Angus steers, 7-9 months old, averaging 258kg from Bringenbrong, NSW, went for 550c/kg.
• 114 Angus steers, 7-8 months old, from Uralla, NSW, averaging 285kg, sold for 527c/kg.

Heifer Market Overview

The heifer market exhibited subdued results, with a clearance rate of just 47%. The largest category was heifers 200-280kg, where 3,050 were offered and cleared at 47%, averaging 374c/kg, a drop of 19c. Heifers 280-330kg experienced a larger drop of 38c/kg, clearing 50% of nearly 1,600 offered at an average of 372c. Heifers 330-400kg cleared only 36% of the 1,291 offered, averaging 415c despite a smaller drop of 9c.

Among the heifer offerings:

• 65 weaned Wagyu x Angus F1 heifers, weighing 233kg from Beaudesert, QLD, sold for 326c/kg.
• 81 steer herdmates, averaging 244kg, fetched 373c/kg.

Breeding Females

The clearance rate for breeding females was notably lower at 40%, reflecting mixed buyer sentiment. Demand remains cautious, yet quality breeding stock continues to attract interest.

A significant concern was the fall in prices for non-spayed heifers and calves, which plunged by $1,528 from the previous week, averaging $2,347. Station-mated cows offered totaled 1,317, with only 32% clearance, averaging $1,540, down $293.

Source: AuctionsPlus