Weekly Cattle Comments - 25.03.22

It was all hands-on deck this week for AuctionsPlus commercial cattle sales, with the largest offering in almost two years, at 24,993 head. While overall market sentiment remains robust, this week’s surge in supply and patchy clearance rates, especially through the joined lines, tells a far more interesting story than just the average final prices.

The “seasonal standoff” between vendors expectations and buyers’ willingness appears to have spread from the lamb market to several of the cattle categories this week, assisted by the larger offerings, with clearance rates falling back. Given the recent run of warm March days and patchy rain, there has been some reports of seasonal concerns rising, with mutterings of “we could do with a good drop” being heard through some inland parts of the eastern states.

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

The star performer for the week through the steer categories were the “big-boys”, with plenty of competition for feeder steers. 400kg+ steers finished the week $97 higher on last week, at $2,549/head, or 580c/kg lwt, with a very competitive 80% clearance rate for the 1,849 head offered. 39 Angus feeder steers from Taralga, NSW Southern Tablelands, averaging 446.1kg/head, sold to 582.8c/kg lwt – equating to $2,600/head.

For the lighter steer categories, prices were largely up, albeit with some mixed clearance rates as offerings increased. A very large increase in 330-400kg steers, at 3,240 head, sold to only a 43% clearance rate, with plenty of post-auction negotiations expected. Even with the lower clearance rate, the average price increased $21 on last week, to $2,211/head. In contrast, 280-330kg steers finished the week $4 lower, at $2,108/head, with an 83% clearance rate for the 2,765 head offered.

Light, young cattle continue to be very hard to wrest from cow-calf producers grip, with the large offering of 2,572 head registering a 58% clearance rate at the immediate end of the auction. Given the “high-bar” being set by vendors for suitable lines, 200-280kg steers finished the week $137 dearer, at $1,845/head. 76 weaned Angus steers from Penola, lower Southeast SA, averaging 255.2kg/head at 7-8 months of age, sold to $2,080/head.
The young and light heifer market matched the lower clearance rates and higher prices of the steer categories, with 200-280kg heifers finishing the week up $106, at $1,846/head – with a 50% clearance rate for the 2,138 head offered. 330-400kg lines slipped back for the week, averaging $61 lower for the week, at $2,112/head.

While there was no shortage of catalogue views, enquiries and bids through the proven joined categories this week, final clearance rates were subdued, with the 2,998 PTIC heifers only registering a 45% clearance rate at the immediate end of the sale. Given the trend in the past week, post-auctions negotiations will lift this rate considerably. PTIC heifers finished the week averaging $284 lower, at $2,919/head. Out of Yeppoon, Queensland, 44 Brahman/Santa Gertrudis PTIC heifers, averaging 406.1kg/head, sold to $2,220/head.

PTIC cow prices finished above PTIC heifer prices for the first time in many weeks, averaging $3,003/head – down $83 on last week, with a 58% clearance rate for the 1,651 head offered.

From Ashford, Northeast NSW, 50 NSM heifers, with 50 CAF sold to $3,920/unit. The Angus heifers, aged two years, averaged 395.9kg/head liveweight, with the CAF from Hazeldean bulls ranged from 2-12 weeks of age. Out of Ironpot, Queensland, 35 SM cows with 35 CAF sold to $3,000 head – with the Santa/Composite cows averaging 519.1kg/head and ranging from 8-14 years of age.

NOTE: Prices as at 2pm, Friday 25^th March 2022