The online cattle market was significantly stronger this week, as a 17% weekly reduction in offerings fueled competition and rain through key regions buoyed sentiment. With a total of 16,966 head offered, the most significant price jump for the week was through the mid-weight steer lines, while prices increased through almost all proven breeding lines, including PTIC heifers.
Rain across large regions of Eastern Australia this week, especially through southern Queensland, helped to give the market further impetus, with the young cattle market pushing to another record high. Year-on-year, the market is 30-40% higher across a range of categories and given the latest three-month rainfall outlook from the BOM, positive seasonal conditions look like they will reinforce the market at recent levels through to the end of the year.
Light young steers were again a vary rare item this week, with a large component of dairy influenced lines on offer through the lightest weight segment in the southern market. However, through the 280-330kg and 330-400kg lines prices jumped significantly, with clearance rates of 88% and 92%, respectively. For the 280-330kg segment, the 1,115 head sold to fierce competition, averaging $152 higher, at $1,938/head. Similarly, the 330-400kg weight segment kicked $114 higher, to average $2,112/head, with a much lower offering of only 847 head for the week.
Demand for feeder steers remained very strong, with the 1,233 head of 400kg+ steers selling to a 92% clearance rate and averaging $46 higher, at $2,425/head.
A 48% contraction in the number of 200-280kg heifers offered this week assisted with a $78 jump in the weekly average, to $1,531/head – with a 93% clearance rate for the reduced offering. Prices for the 280-330kg and 330-400kg lines slipped back marginally on last week, down $8 and $18, respectively.
Numbers were again very thin through the proven breeding lines, with the 1,689 PTIC heifers making up the largest segment of the market. The clearance rate for PTIC heifers was up slightly on last week, at 65%, while the average price jumped $192 on last week, to $2,573/head. NSM cows with CAF sold to a strong level of interest averaging $97 higher on the previous week, at $3,427/head – with an 84% clearance rate for the 865 head offered.
NOTE: Prices as at 2pm Friday, 1st October, 2021.
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