What did bull sales do in July?

Bull prices were expected to come under some pressure this spring. Although, the market has come back, some of the more prominent seedstock breeders outperformed expectations.

Key Points 

• Average sale bull prices are down 21% from last year’s record season 

• Supply of bulls is up 15%, and clearance rate is down 4 percentage points 

• Brahman bulls saw a big increase in offerings, while Charbrays achieved a 100% clearance 

The supply of bulls offered on AuctionsPlus has increased from July 2022. A total of 2,077 bulls were offered online in the last month compared to 1,810 last year - an increase of 15%.  

Clearance rate for the month reached 87%, down 4 percentage points from 91% last year. 

• Read more: More bulls and lower average prices make for a buyer's market

Prices across all breeds offered on AuctionsPlus averaged $11,289/head compared to last year’s July average of $14,337/head. That's a fall of 21% year on year.

The top three sale averages were achieved by Knowla Livestock at $25,600 across 80 Angus bulls, the combined effort from Merawah & Tenaru of $14,778 across 45 Poll Hereford bulls, and Curracabark at $14,692 across 65 Angus and Hereford bulls. 

Breed-specific results 

Angus bull prices have fallen 25% from the record averages in July last year, while the number of bulls offered has increased 17%. Prices averaged $13,071/head for a 96% clearance. 

Brahman bulls experienced the largest surge in supply for the month, with 276 bulls offered averaging $6,490/head for a 58% clearance. 

• Read more: Outstanding Woonallee Toronto T274 hits breed record $55,000

Charbray bulls achieved a total clearance of 94 bulls and averaged $9,628/head, down 15%. 

Supply of Charolais bulls was flat on last year, while prices slipped 18% to average $10,361/head across the 246 bulls offered for a 95% clearance rate. 

Hereford bull listings fell 23% and prices eased 22%, with 268 bulls selling to a $10,445/head average and 88% clearance. In contrast, Poll Hereford bull listings increased, with 179 bulls reaching a 91% clearance and averaging $12,651/head, down 13%.  

Table 1. AuctionsPlus sale results of the top six breeds by offerings, July 2023.

This summary not only provides an update of the state of the bull market, but also provides bull breeders with an industry average to benchmark themselves against as well as a guide for bull buyers before they make their next purchase. 

• Read more: Texas Thunderstruck T383 sells for Australian all breeds record $360,000

As always, if you have any questions or suggestions, feel free to email me at dthomson@auctionsplus.com.au