Weekly Market Comments from AuctionsPlus
AuctionsPlus commercial cattle sales this week continued to see a steady rise in offerings, with the first signs of some buyer caution evident through the young steer lines, with prices softer and clearance rates below late 2021 levels for the second consecutive week. With 17,262 head offered across the three main commercial sales this week, PTIC heifers continued to be the largest single category, with 2,540 head offered, followed by 330-400kg steers, with 2,318 head.
AuctionsPlus sheep and lamb numbers for the third week of January increased by 35% week-on-week, to total 113,382 head. Despite growing lamb numbers continuing to be offered online, some purchasing hesitation through the supply chain resulted in patchy clearance rates across both lamb and unjoined ewe categories for the week. A notable rise in joined ewe listings was registered this week, with a total of 12,321 head offered - doubling last week’s total. One of the features for this week was across the scanned-in-lamb ewe offerings, which returned solid prices and high clearance rates.
The significant jump in the number of cattle offered through AuctionsPlus commercial cattle sales this week was no match for the hungry buyers in waiting. With 15,684 head offered across the three main commercial sales, up 42% on the same week in 2021, prices were higher across all the proven breeding categories, with the PTIC heifer and PTIC cow markets kicking up to a new level.
From north to south, the cattle prices received during the first week of 2022 have continued to challenge record levels, with happy vendors spread from central Queensland through to the scorching hot returns registered down south at the Victorian weaner sales. For buyers, the purchase price pain continues unabated, with “digging deeper into the pockets” likely to be a frequent occurrence during early sales.
AuctionsPlus weekly sheep and lamb sales for the first week of 2022 hit the ground running, with a total of 40,567 head offered - 73% higher than the corresponding week in 2021. The largest listing regions included Southwest Victoria which offered over 50% of the total catalogue, with 22,661 head, while Kangaroo Island offered 4,198 head. The NSW Riverina was the top purchasing region this week, securing 7,969 head, followed by Southwest Victoria which secured 7,411 head.
It is only fitting that the national cattle market should end its most astounding year in generations with prices at record levels. The young cattle market bounced higher again this week, as the seemingly relentless search for suitable young cattle to put back into paddocks edged-up a notch, assisted by the selling hiatus over the next four weeks.
The final AuctionsPlus commercial sheep and lamb sales for 2021 registered a 22% jump in weekly listings, as a pre-Christmas flush had 151,122 head offered. Compared to the final week of 2020, listings were 5% higher - the result of widespread rainfall and wet paddocks causing a delay of lamb offerings for many producers in previous weeks.
The penultimate week of AuctionsPlus commercial sales for 2021 delivered mixed results through the main young cattle categories, with the 16,741 head offered - up 22% on last week and the largest weekly offering since the start of November. While overall price movements left no definite trend for the week, the market continues to sit atop a price Everest, with yet another record for the EYCI this week.