AuctionsPlus is Australia’s largest cattle market, with record throughput for the past twelve months of 829,022 head (1 January 2022 – 31 December 2022).
In the most recent March quarter, AuctionsPlus had 157,350 head offered online, down 30% from the highs of Q1 2022. With restocking demand subsiding, unappealing prices and plenty of residual feed in paddocks, producers have mostly held stock on-farm.
The AuctionsPlus Insights team has broken down the average prices for the top ten listed breeds in Q1 2023. Breeds included are Angus, Brahman, Brangus, Charbray, Charolais, Droughtmaster, Friesian, Hereford, Santa Gertrudis and Shorthorn.
The long-anticipated cattle price slide arrived in Q4 2022 and continued in Q1 2023. The magnitude of the decline was exacerbated by the logistical issues throughout a wet Spring in 2022, creating a sling-shot type reaction in the market. Transport and access issues held supply back and supported higher than expected prices in October. When cattle were able to move freely again, the surge of supply in November sent prices on a steep descent, until stabilising only in the last two weeks.
While varying across breeds and categories, quarterly prices have declined an average 29% since Q1 2022. Most of this annual decline has occurred in the last six months, with prices in Q1 2023 averaging 24% below Q4 2022.
Four selected breeds and categories are briefly described below. For the full price series across the ten breeds:
Droughtmaster Steers 280-330kg
Droughtmaster steers weighing 280-330kg lwt averaged $1,419/head in the March quarter of 2023 – 18% below the previous quarter and 32% below the corresponding quarter in 2022.
Overall, prices for pure Droughtmaster categories in the March quarter of 2023 have fallen an average of 32% from the same quarter of 2022.
Shorthorn Heifers 200-280kg
Shorthorn heifers weighing 200-280kg lwt averaged $1,090/head in the first quarter of 2023 – 42% lower than the same period in 2022.
Across all categories, Shorthorn prices have fallen 27% from the same quarter in 2022. Prices for young stock fell an average 40% YOY, whereas breeding stock fell by 14%.
Angus Heifers 280-330kg
Angus heifers weighing 280-330kg lwt averaged $1,298/head in Q1 2023 – 36% lower than the previous quarter, and 40% lower than last year.
Across all categories, Angus prices fell an average 28% from the previous quarter and 31% from the same quarter of 2022.
Hereford PTIC Heifers
In the March quarter of 2023, Hereford PTIC heifers averaged $2,514/head – a decrease of 20% on the same period in 2022.
Overall, average prices for purebred Hereford cattle have fallen 28% from the previous quarter and 33% from the corresponding quarter in 2022.
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