AuctionsPlus commercial cattle listings lifted slightly this week to 9,874 head. The small offering generated strong competition and saw clearance jump to 66% and VOR rise to $97/head. There is immense interest and anticipation in the direction of the cattle market in the next six months. Many producers are in a holding pattern with more grass than incentive to sell due to low prices. While others are considering the opportunities that come with the bottom of the market and when that might be. Some decent rain in south-eastern Australia and lower supply has provided some short-term support to prices in the last two weeks. This support is likely to continue if supply remains restricted, however, prices are expected to ease lower if large numbers of cattle return to the market.
