Weekly Cattle Comments - 29.10.21

Online buyers flexed their bidding muscles this week, with young cattle prices lifting higher across almost all categories, as the demand for cattle back into paddocks appears almost insatiable. The 17% jump in offering this week, at 19,498 head, did impact clearance rates across the heavier lines compared to previous week.

With an AuctionsPlus commercial listings record of 2,396 head of 400kg+ steers offered for the week, the clearance rate slipped back to 84%, compared to 86% for 1,638 head last week. However, the increased supply was matched with excellent buyer interest, with the average for the category jumping $88 on last week, to $2,459/head – equating to a 20c rise, to 550c/kg lwt. The surge in heavy steer numbers in recent weeks is expected to continue into November, with southern producers surely keen to cash-in steers that have only known lush and green paddocks.

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

Through the lighter steer categories, prices were higher across the board. Highlighting the desire to secure lighter lines, a clearance rate of 100% was registered for the two lightest categories, with 2,573 head of 200-280kg steers selling to $25 dearer, averaging $1,677/head. Steers 280-330kg averaged $61 higher, at $1,961/head, with the 1,657 head selling to an 87% clearance rate. The sharpest weekly rise was registered through the 330-400kg lines, kicking $141 higher, to average $2,234/head.

The four lightest young heifer categories increased in prices this week, with the 400kg+ category only slipping lower by $1 on last week, to average $2,310/head. Like the steer portion, there was another big offering through the 200-280kg segment, with the 2,326 head offered selling to a 93% clearance rate – averaging $69 higher on last week, at $1,595/head. A notable decline in the clearance rate for 330-400kg heifers was observed, slipping to only 61% for the 1,381 head offered – averaging $46 higher, at $2,122/head.

While the supply was higher through the weaner and yearling lines this week, it was another tight offering for the proven breeders, with the 1,468 PTIC heifers selling to a 65% clearance rate. After last weeks decline, the PTIC heifer category regained all the lost ground and then some, with the average price for the week up $279, to $2,874/head. An indicative line of 54 Angus PTIC heifers from Heywood Victoria, aged 25-26 months weighing 494.8kg liveweight returned $3,100/head. The heifers were joined to Barwidgee Angus Bulls and will travel to Dunedoo, NSW.

The available supply of cows was again very tight, with the weekly average for NSM cows with calves at foot finishing at $3,512/unit, with a 65% clearance rate for the 830 head offered. A line of Santa Gertrudis cross, station mated cows with CAF aged 2-5 years, weighing 513kg liveweight, with calves averaging 125kg, returned $3,310/head.