Weekly Cattle Comments - 11.02.2022

It was a reduced supply of cattle through AuctionsPlus commercial cattle sales this week, with overall numbers contracting 20% on last week’s unexpectedly large offerings, to 17,113 head. 
The reduced supply failed to halt price declines through the more populated categories, with heavy steers and PTIC heifers registering the largest declines.

With holiday disruptions now over and two uninterrupted weeks of cattle sales now on the record in 2022, the overall sentiment within the market remains extremely high. While the current market has the most recent positive rainfall outlook fully priced in, the sideways movement of the EYCI throughout the past week should provide excellent confidence for producers heading towards the key autumn period.

Table 1: AuctionsPlus National Weekly Cattle Prices
Table 2: AuctionsPlus Queensland Weekly Cattle Prices
Table 3: AuctionsPlus Angus Weekly Cattle Prices

It was a “see-saw” result through the young steer lines this week, with the lighter lines lifting considerable on quality, while the heavier lines dropped back. A reduced number of lighter steers, less than 200kg, jumped considerably this week, as competition for a very thin offering remained fierce, averaging $1,361/head. 280-330kg steers remained largely steady, edging $24 higher on last week, to average $2,051/head, with a very healthy 94% clearance rate for the 1,286 head offered.

The two heaviest steer categories both declined considerably this week, with 330-400kg lines back $105 on last week, to $2,164/head. The 78% clearance rate for the 1,769 head offered signaled some buyer hesitancy, especially when compared to the over 90% clearance rate of the three lighter categories. A line consisting of 114 Angus feeder steers from Heywood, Victoria, aged 16-17 months and weighing 396kg liveweight returned 644c/kg, or $2,550/head. Feeder steer prices slipped back 10c for the week, to average 535c/kg liveweight, or $2,357/head, with an 81% clearance rate for the 1,396 head offered. Tipping the scales at 425kg was a line of 46, 10-11-month-old Angus steers from Penola, South Australia, which returned 636c/kg or $2,675/head.

With lower clearance rates than in previous weeks, four-out-of-five young heifer categories declined in price this week, with the largest offering of 330-400kg heifers back $67 on last week, averaging $2,141/head. 280-330kg heifers averaged $29 lower for the week, at $1,950/head, with an 81% clearance rate for the 1,482 head offered. From Kingston South Australia, a line of 97, 11-12-month-old Angus weaner heifers, averaging 317kg liveweight, returned 690c/kg, or $2,190/head.

PTIC heifers took a step back this week, averaging $152 lower on last week, at $3,053/head, even though there was a comparatively high clearance rate for the category of 74% for the 1,977 head offered. Out of Gracemere, Central Queensland, 26 Angus/Brahman cross PTIC heifers sold to $2,760/head. Ranging from 18-24 months of age, the heifers averaged 398.4kg liveweight and had been joined to Black Brangus and Angus bulls.

While there was a jump in the number of PTIC cows offered this week, buyers were cautious, with only 48% of the 1,782 head finding a sale. Quality was the driving factor behind PTIC cows averaging $192/head higher for the week, at $3,029/head. SM cows with CAF averaged $121 higher this week, at $3,664/head. 20 SM Brangus cows with 20 CAF out of Tansey, Southern Queensland, sold to $3,530/head, with the 8–11-year-old cows averaging 505.6kg liveweight, with CAF averaging 108kg.

NOTE: Prices as at 2pm, Friday 11th February 2022