Targeted, measured and deliberate. The marketing of feedlot ready cattle is bringing a smile to many AuctionsPlus vendors this week, as the shortage of well finished steers continues to drive the Australian cattle market to all-time highs. The best 400kg plus feeder steer lines this week through Australia’s largest cattle selling platform closed in on $2,400/head, with live weight returns easily exceeding the 500c/kg barrier.
Offered through Nutrien Ag Solutions Boultons, Walcha, by the account of Glen Collin Pastoral Company, an outstanding line of 80 Angus EU accredited feeder steers sold to 537.6c/kg – equating to $2,340 per head. Averaging 435.3kg liveweight, the 20–22-month-old line ranged from a low of 386kg, through to 496kg. An additional 160 head (non-EU) weighing 431kg from the same vendor sold for 519.3c/kg, with many of the offered line initially purchased through AuctionsPlus in 2020. The same agency also offered a smaller line of EU steers, by the account of Kanimbla Grazing, which averaged 436kg and returned 535.2c/kg lwt.
From the Central Tablelands of NSW, several lines of feeder steers offered through Ray White Emms Mooney were highly sought after, with a line of 30 Angus steers from Sunnypoint Pastoral company selling for 515.8c/kg lwt - returning $2,399 per head. Purchased out of Victoria in early January, the line of 14–17-month-old steers averaged 465kg, with a tight weight range from 448kg to 506kg. The same vendor offered a B-Doubles’ worth of similar cattle three weeks earlier which achieved 518.1c/kg lwt. An additional three lines from the same agency today, each from different vendors, reached 519.1c/kg, 517.7c/kg and 519.8c/kg lwt, respectively.
Critically, the above vendors and agents were able to put together substantial steer numbers in weight ranges suited to heavy export feedlots. All lots were available for feedlots to purchase on a cents per kilogram basis and offered extended delivery periods of up to two weeks. Interestingly, there was competition from grass finishers on many of the above lots, as well as feedlots across three states.
This week's AuctionsPlus 400kg plus steer category averaged $2,111 head, or 473c.kg lwt, with an astounding 100% clearance rate for the 668 head offered.
Looking at the online feeder steer market in the context of the past two years, which spans from the depths of the drought, through to the excellent season today – prices have increased substantially. However, the one similarity between the two periods has been the exceptionally tight supply. In June 2019, 400kg steers averaged $1,344/head – with a substantial premium on offer due to the difficultly of finishing steers to heavier weights through the drought. Comparatively, 400kg and above steers for June 2021 averaged 44% higher at $1,934/head.
For the 2020-21 financial year, there was 33,150 head of 400kg and above steers offered through AuctionsPlus, averaging 21% higher on the previous year, at $1,848/head, or 417c/kg lwt – with an average clearance rate of 81%.
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