Weekly Cattle Comments - 22.10.21

After a mixed performance last week, the AuctionsPlus young steer market roared back to form this week, with the four lightest categories regaining some lost ground. With a 20% increase in commercial offerings this week, to 16,631 head, price movements through most categories were largely supply influenced, with a sharp increase in listings through the lighter heifer lines impacting final averages for the week.

SPECIAL FEATURE - AUCTIONPLUS WEEKLY QUEENSLAND CATTLE PRICE SUMMARY
In an expansion of AuctionsPlus Market Insights reporting, the inaugural “AuctionsPlus Weekly Queensland Cattle Price Summary” is published below in Table 2.

With the largest weekly offering in months, at 1,638 head, the 400kg+ steer category declined 3c on last week, to average 530c/kg lwt, or $2,371/head – with an above average 86% clearance rate for the week. This week’s 32% increase in the supply of heavy steers continued the trend of recent weeks, with a steady amount of well finished grassfed yearling steers hitting the market.

For the lightest steer categories, clearance rates ranged from 99% for less than 200kg lines, down to 90% for the 1,122 head of 330-400kg steers offered. With 1,371 head listed for the week, 280-330kg steers jumped $90, to average $1,900/head for the week – erasing almost all last week’s $94 fall. 200-280kg steers averaged $74 higher for the week, at $1,652/head.

All five young heifer categories registered a sharp rise in offerings this week, with prices averaging lower for all but one. A 51% jump in the supply of 200-280kg heifers contributed to a $66 decline for the week, to average $1,526/head – albeit with a very healthy 95% clearance rate. 280-330kg heifers also increased by 50%, with 1,444 head offered – selling to an 87% clearance rate and $106 cheaper, at $1,837/head.

Going against the trend of the heifer lines was the 330-400kg category, which jumped $82 on last week, to average $2,076/head – with a 94% clearance rate for the 1,865 head offered.

It was another varied week through the breeding lines, with the 1,224 PTIC heifers slipping back $191, to average $2,595/head after last weeks $352 gain. Following a higher clearance rate last week, PTIC heifers slipped back to 55%, with reports indicating producers this week went back to targeting the heavier unjoined lines. There was a limited offering through most breeding categories this week, with 527 PTIC cows selling to a 73% clearance rate and averaging $244 higher on last week, at $2,739/head.

AuctionsPlus Weekly Cattle Summary – w/e Friday 22^nd October, 2021

Table 1: AuctionsPlus National Cattle Prices ­

Table 2: AuctionsPlus Queensland Cattle Prices