In the most recent June quarter, AuctionsPlus had 173,563 head offered online, up 10% from the previous quarter and down 27% from the highs of Q2 2022. Listings improved from the March quarter due to the seasonal supply of excess breeding females as producers look to finalise their breeding herd numbers for the year ahead. While subdued restocking demand, unappealing prices and plenty of residual feed in paddocks have led to greater retention of livestock on-farm.
The AuctionsPlus Insights team has broken down the average prices for the top ten listed breeds in Q2 2023. Breeds included are Angus, Brahman, Brangus, Charbray, Charolais, Droughtmaster, Friesian, Hereford, Santa Gertrudis and Shorthorn.
The slide in cattle prices that started in Q4 2022 has continued in Q2 2023. High numbers of slaughter ready cattle continue to flow onto the market while restocker demand has subsided following the maturation of the herd rebuild and expectations of a dryer outlook have developed.
Across all breeds and categories, quarterly prices have declined an average 40% since Q2 2022. Most of this annual decline has occurred in the last nine months, with prices in Q2 2023 averaging 18% below Q1 2023. A recent stabilisation in prices might lead to a different result for the Q3 2023 Breed Breakdown.
Four selected breeds and categories are briefly described below. For the full price series across the ten breeds:
Shorthorn Steers 200-280kg
Shorthorn steers weighing 200-280kg lwt averaged $947/head in the second quarter of 2023 – 49% lower than the same period in 2022 and 10% lower than last quarter.
Across all categories, Shorthorn prices have fallen 50% from the same quarter in 2022.
Droughtmaster Steers 280-330kg
Droughtmaster steers weighing 280-330kg lwt averaged $1,155/head in the June quarter of 2023 – 19% below the previous quarter and 38% below the corresponding quarter in 2022.
Overall, prices for pure Droughtmaster categories in the June quarter of 2023 have fallen an average of 48% from the same quarter of 2022, slipping 28% from the March quarter of 2023.
Hereford Heifers 280-330kg
In the June quarter of 2023, Hereford heifers weighing 280-330kg averaged $1,032/head – a decrease of only 7% from last quarter. However, prices have declined 40% from the same period in 2022.
Overall, average prices for purebred Hereford cattle have fallen 26% from the previous quarter and 47% from the corresponding quarter in 2022.
Angus PTIC Heifers
Angus PTIC heifers averaged $1,725/head in Q2 2023 – 28% lower than the previous quarter, and 44% lower than last year.
Across all categories, Angus prices fell an average 20% from the previous quarter and 43% from the same quarter of 2022.
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