As the dust settles on the 2022 AuctionsPlus spring stud selling season, the influence of the run of wet seasons, strong commercial prices and sustained optimism in the livestock industry has seen increased sale averages and high prices. Following on from the highs of the 2021 stud season, there was no shortage of records in 2022, with AuctionsPlus registering another successful year - rising 3% on last year, with a total of 555 stud cattle and sheep sales.
With COVID restrictions no longer impairing the ability to attend physical sales, sequentially interfaced auctions accounted for 81% of all spring sales on AuctionsPlus – up from 77% in 2021. Additionally, sales utilising both video and audio streaming lifted by 22% from 2021, reaching a total of 120 sales. Pick of the pen sales (PoP) continue to be a popular means of selling stud sheep, with a total of 70 sales run across the spring stud season as PoP - up 14% on 2021.
Online activity across stud sales remained steady from 2021. Users continued to participate in auctions online from the comfort of their home, while the ease of viewing online catalogues also brought a wider audience to stud vendors. Auction sales across the 2022 spring period totalled over $468 million, with 22% the result of online purchases. Across all sales the number of average connections reached 148 users, while an average of 17 lots per sale were purchased online (Table 1).
Cattle Stud Sales
A total of 210 cattle stud sales were held online during the spring selling period – an 8% increase on 2021. Online only sales registered the biggest growth year-on-year, rising 14% to total 59 sales, while sequentially interfaced sales totalled 151 – a 6% rise from 2021.
Looking at online activity across cattle sales, total user connections continued to rise year-on-year, lifting 6% on 2021, to average 207 users per auction - while online bidding activity remained steady compared to 2021. Furthermore, an average of 11 active online bidders per sale contributed to 16% of lots selling to online buyers, with 29% of lots having an online underbidder.
Off the back of the momentum established in 2021, prices soared to new highs in 2022, with cattle stud sales offered on AuctionsPlus averaging $10,167/lot – 16% up on 2021. Total auction takings for the season reached over $337 million, with online purchases accounting for 24% - averaging $9,611 per lot – reaching a top online price of $91,000.
Sheep Stud Sales
A total of 315 stud sheep sales were undertaken on AuctionsPlus during the 2022 spring selling period – a 2% rise from 2021. The lifting of restrictions for physical sales saw the number of online only sales decline year on year – back 49%, to total 45 sales. In contrast, a total of 306 sequentially interfaced sales were performed on the platform, rising by 9% on 2021.
Online activity remained steady on last year across stud sheep sales, with an average of 103 total connections per sale. An average of 7 bidders were active across each sale, with 10% of lots selling to online buyers and a further 11% of lots sold having an AuctionsPlus user recorded as the underbidder.
Following the similar trend to online activity, prices across stud sheep sales held online remained steady compared with 2021, averaging $2,421/lot. Total auction sales reached over $131 million, with online purchases accounting for 17% of total sale. The online average per lot reached $2,219, with a top online price of $105,000.