The record high prices on offer across all categories again attracted more cattle exclusively into AuctionsPlus sales this week, with the total offering up 34%, at 18,617 head, which follows from last weeks 33% increase. Given this was the highest weekly offering since the final week of May, the overall clearance rate remained encouraging, with most categories averaging higher on last week.
There seems to be very few fresh ways to explain the record rise in the EYCI over the past year, other than “1,000c/kg cwt”. Rain, a generational low breeding herd and confidence building on confidence has now driven the cattle market to a level that 18-month-ago would have been thought of as impossible. With the most recent outlook from the BOM looking at a sustained wet period heading into spring, the probability for the market to remain at recent levels has strengthened.
Demand for steers with plenty of time ahead of them in the paddock remains fever pitch, as numbers remain extremely scarce. While a very strong dairy cattle influence had the lightest steer category (less than 200kg) down on last week, all four heavier categories averaged higher. The largest category, 280-330kg, averaged $10 higher on last week, at $1,745/head – with an 80% clearance rate for the 2,126 head offered. An indicative line of 70 weaned Angus steers out of Central NSW, averaging 276.5kg liveweight, sold to $1,900/head – equating to 1,255.8c/kg dressed.
With 846 head, the 400kg+ steer category jumped $102 on last week, to average $2,216/head – with a 96% clearance rate.
Young heifers contributed to most of the increase in supplies this week, with 3,331 head offered in the 200-280kg head category, compared to 1,824 head last week. The 83% weekly increase for the category only had a minor impact on prices, averaging $8 lower, at $1,455/head. Prices increased for the remaining four young heifer categories, with the heaviest lines again registering a near-capacity clearance rate of 97% for the 483 head offered.
Some outstanding lines of PTIC heifers and PTIC cows pushed both categories higher this week. PTIC heifers jumped another $108, to average $2,469/head, with a 73% clearance rate for the 1,426 head offered. Even with a 49% jump in offerings this week, at 1,877 head, PTIC cows averaged $367 higher, at $2,911/head – underpinned by some excellent quality bloodlines.
NOTE: Prices as at 2pm Friday, 23rd July, 2021.
AuctionsPlus has released its EOFY Summary for 2020-21.
You can download the full report by clicking below.
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