Grass is setting the pace in the cattle market, with restockers outbidding feedlots and processors on AuctionsPlus last week.
AuctionsPlus offered 10,200 cattle across the country. Reserves are being met more readily, and northern buyers are reaching for Queensland cattle ahead of forecast rain. A national marketplace gives a view across the whole country, and last week it showed the same trend from Victoria to Queensland.
Victorian supply ran 12% above its long-term average last week, a sign producers in the state are active and ready to trade.
What changed was who bought those cattle.
Processors bought less than they have in recent weeks, and the feedlot share of lots purchased fell to a third of the previous week's. Graziers filled the gap. After a good fall of rain heading into spring, and with strong grass-fed programs behind them, Victorian restockers are outbidding feedlots to put bullocks back in the paddock. That matches what agents are reporting on the ground.
Clearance held steady last week, but value over reserve jumped 17% on the previous week. It now sits 27% above average, after easing over the past few weeks.
The rebound suggests buyers have caught up to where vendors were setting reserves. Right now, the market is meeting realistic reserves and paying over them.
Northern New South Wales buyers took nearly 60% of the Queensland cattle sold last week. With a front expected to bring rain midweek, producers look to be filling paddocks before spring buying picks up.
Among the standouts was a line of heifers from JS Grazing, Injune, carrying verified Millah Murrah bloodlines.
They show how verified genetics, clearly described, stand out in a national market.
In the weaner section, heifers lifted 20 cents last week while steers rose 4 cents. That narrowed the gap between them to 13%, against a typical 17% over recent weeks. It points to stronger demand for females as producers look ahead to the season.
The next few weeks hinge on the weather. If the midweek rain arrives, expect northern NSW buyers to stay active and spring competition to build. If it doesn't, watch whether that demand holds.
For vendors, the current mix is working in their favour. Restockers are competing hard with feedlots and processors, and reserves are being met more readily.
A national marketplace puts their cattle in front of all those buyers at once.