AuctionsPlus commercial cattle numbers fell substantially again this week, decreasing by 26%, to 9,236 head offered. The weekly indicators were all positive, with Value Over Reserve a standout, jumping ahead $43 to average $91/head above set reserves.
The difference between set start and reserve rates had a significant impact on clearance rates this week. Lots reserve rates that were set at 5% and under above the start price returned a 68% average clearance, whereas those set further apart, above 5%, only averaged a 37% chance of selling.
Crossbred lambs continue their strong price run, with the category averaging $130 for the month of June, which is the highest monthly average for the category since August 2022.
AuctionsPlus commercial cattle listings lifted to 16,839 head, increasing by 11% in the week ending 21st June 2024. The larger offering was met with mixed competition as clearance fell to 52%, while value over reserve lifted by $74 to average $108.
AuctionsPlus General Manager-Network analyses the online sheep market trends from the week, including significant post-auction negotiations bumping the final clearance figures and other insights.
The tighter supply was met with another week of strong clearance rates, averaging 78% for the week, which is a three-percentage point rise from last week.
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