There was another big supply surge across the AuctionsPlus cattle markets this week, with 19,477 head offered – up 25% on last week. Results were somewhat mixed across the categories, as the clearance rates remained high through the largest lines offered.
While the historically low national herd, combined with the seasonal conditions, has underpinned the record market throughout 2021, the rise in supplies offered through AuctionsPlus over the past four weeks has failed to dampen sentiment. For the past four weeks, an additional 40% of cattle have been offered through AuctionsPlus, compared to the corresponding period last year – totaling 67,632 head. Indeed, the online market appears to have cleared a “major supply hurdle” in recent weeks - signaling that there is still plenty of room left in wet paddocks, with a confidence and willingness to spend to optimize spring conditions.
Boosted by some larger offerings out of northern Queensland and WA, the supply of young heifers increased 97% this week, to 6,257 head – the main contributor to the larger weekly total. This is the second week in four where the market has experienced a big surge in young, unjoined females, albeit, assisted by proactive and motivated vendors. The 200-280kg category averaged $65 lower on last week, at $1,398/head – with the 3,926 head offered reaching an 88% clearance rate. The 660 Brahman heifers out of Chillagoe, North Queensland, sold between $1,310-1,330/head.
It was primarily a cheaper steer market this week, with some considerable declines through the lightest two categories – even with strong clearance rates of 89% and 91%, respectively. The largest category, 200-280kg steers averaged $116 cheaper, at $1,464/head, while the 330-400kg segment went against the trend, averaging $30 higher, at $2,009/head.
For the proven breeding lines, PTIC heifer numbers were back slightly on last week, at 1,462 head – averaging up $21, to $2,436/head for the week. An indicative result for the week saw 39 PTIC Angus heifers, out of Guyra NSW, averaging 389.2kg liveweight and ranging between 21-23 months of age, sell to $2,750/head – equating to 1,458.9c/kg cwt. Similarly, 45 PTIC Angus heifers out of St George, Queensland, averaging 431kg liveweight, sold to $2,830/head.
NOTE: Prices as at 2pm Friday, 6th August, 2021.