Market Update: Declining Trends in Cattle Prices on AuctionsPlus

This run of 80 Angus yearling heifers 353kg at 12-14
months from Merrriwa in the NSW Hunter made 461c/kg today, while a further 66 heavier sisters 413kg at
13-15 months made 450c/kg.

In a recent report, auctions across the board for steer, heifer, and breeding female categories have shown a downward trend
in pricing on AuctionsPlus. This week, a total of 18,059 head were listed nationally, representing a slight increase from
last week. Notably, eight out of ten young cattle weight divisions experienced significant decreases in pricing.

The overall clearance rate dropped to 67%, a stark contrast to 80% reported last week. A particularly notable trend is the
decline in clearance rates across southern states, with less demand observed as listings moved further south. This shift was
evident in the Southern Weaner & Yearling Sale, which demonstrated lower clearance compared to listings in Queensland and
northern New South Wales.

Producers in the southeast, enjoying favorable feed conditions, appear content to hold onto their stock, biding time to
achieve desired pricing rather than settling for the current market values. Additionally, softer results were recorded in
heavier cattle categories, indicating that buyers are being more selective in their purchases.

Queensland buyers emerged prominently this week, securing 6,264 head of cattle. A significant drop in prices was observed
across most steer categories. Steers weighing between 280-330kg numbered 1,827 head and cleared at 68%, with prices
dropping 24c/kg to average 588c. For the steers in the 330-400kg range, prices dipped 13c to average 518c, clearing
72% of nearly 2,000 head.

Meanwhile, heavy feeders weighing over 400kg saw a large yarding, close to 2,000 head, but managed to clear only 48%,
experiencing a 10c/kg decline to an average of 502c. Contrarily, steers in the 200-280kg category bucked the trend,
increasing by 24c to average 593c, clearing 82% of the 1,577 head offered.

A notable sale involved a line of 84 Angus/Brahman Cross steers from St George, QLD, aged 7 to 9 months and weighing
237kg, which fetched $1,500/head or 634c/kg, destined for a buyer in Condamine, QLD.

Heifer Offerings

In the heifer segment, more than 2,000 heifers weighing between 280-330kg cleared at 66%, though prices fell 10c to
average 455c. Heifers in the 330-400kg range saw a similar fate, dropping 13c to an average of 453c while clearing 69%
of the 2,500 offered. Heavy heifers above 400kg also slipped by 13c to average 453c with only 61% clearance of the
850 offered.

A standout sale from Condobolin, NSW, included 84 Angus heifers aged 9 to 10 months and weighing 263kg, which sold for
$1,610/head, or 611c/kg, heading to a buyer in Hamilton, VIC.

Breeding Females

The majority of breeding categories saw declines in pricing this week. PTIC heifers fell by $234, averaging $1,826 with
593 offered and a clearance rate of only 53%. In contrast, whole PTIC cows improved slightly, rising by $138 to average
$2,571. NSM cows and calves decreased by $288 to average $2,395, while their heifer and calf counterparts lost $194,
averaging $2,859. Despite a hefty offering of almost 900 SM cows and calves, clearance was just 55%, even though they
lifted $110 to average $2,925.

A noteworthy transaction involved 23 Angus station-mated heifers and calves, each averaging 500kg and aged between 32-38
months, selling from Wanganella, NSW, for $3,640/head destined for Cudgee, VIC.

Source: AuctionsPlus