Weekly Cattle Comments - 12.11.21

Widespread rainfall across the eastern seaboard has again failed to dampen the cattle market. Despite a 16% drop in listings this week, most likely hindered by wet paddocks, a total of 16,720 head of cattle were listed online. Demand across most categories remained high, particularly across feeder weight steers and heifers. Notable demand for Queensland cattle lines was prominent this week, with almost all categories returning 100% clearance, indicative of realistic reserves underpinned by restocker, feedlot and processor buyers keeping their finger on the pulse of the market to secure lines at the ‘right’ price.

Another week of mixed results across the heifer categories was seen on the online market this week, yet this time with lighter heifer categories returning higher averages. Heavier heifer lines however retracted following last week’s gains, yet clearance across most categories was higher due to overall reduced numbers. Heifers weighing 200-280kg averaged 701c/kg lwt this week – up 69c from last week. Out of Torrens, QLD an indicative line consisting of 120 Angus cross heifers returned 705c/kg or $1,540/head. The heifers are aged 6-15 months and weigh an average of 218.5kg liveweight.

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

Heifers weighing 280-330kg accounted for 10% of the catalogue, with 1,644 head listed online- 67% higher than last week. Despite the increased volume, demand for the category rose from last week to 82% with the average back 3c at 620c/kg lwt. Heifers weighing 330-400kg averaged 565c/kg – back 32c from last week. The category had the largest listing of 1,791 head where demand for feeder weight cattle was strong with 99% clearance. Heifers weighing 400kg+ returned a 26% clearance across the 718 head offered this week, with just 1% of the Angus cattle (which made up most of the category) selling at auction – a clear example of high reserves set by vendors not aligning with those of the buyers. Based off previous weeks however, the clearance rate will rise over the next few days following post sale negotiations.

Across the steer categories, all but the heaviest 400kg + category results averaged dearer this week. Steers weighing 200-280kg had the largest offering this week, accounting for 12% of the total catalogue with 1,971 head offered. A 94% clearance for the category underpinned strong demand as prices increased by 86c to average 757c/kg lwt. Steers weighing 330-400kg averaged 608c/kg – up 12c. The category had a total of 1,374 head offered which was met with unwavering buyer demand as a 98% clearance was recorded. A line of 122 Angus weaner steers from Coles, SA weighed an average of 335kg liveweight and returned 689c/kg lwt or $2,310/head.

Mixed results across breeding stock lines were seen again this week, with NSM heifers and calves obtaining the largest fall as the category averaged $3,594/head – back $232 from last week. NSM cows and calves recorded an average of $3,750/head -up $238 from last week with a 97% clearance for the 778 head offering. Station mated cows and calves recorded the largest week-on-week change, with the category averaging $3,932/head- up $508. From Fullerton, NSW three even lines totalling 60 head of Hazeldean blood Angus station mated cows and calves returned $4,830/unit. The 50-52-month-old cows are joined to Hazeldean stud bulls whilst the calves at foot are 2-3 months old and weigh 179kg liveweight.

AuctionsPlus Weekly Cattle Summary – w/e Friday 12th November, 2021