AuctionsPlus commercial cattle numbers fell by 24% this week, with the 10,720 head attracting stronger demand than last week with clearance increasing 10-percentage-points to 77%. The stronger demand was felt across all stock categories this week, with only one category from each of steers, heifers and breeding stock falling in value. The lighter end of the steer and heifer market recorded the strongest gains after falling last week, while the heavier end of the market continues its strong run.
Value over reserve increased by $43 this week to average $95 above set reserves, as buyers had to push a bit harder to secure lots. The 280-330kg steer indicator was the only steer category to fall in value, averaging $1,248/head, while the AuctionsPlus Young Cattle indicator lifted 23c to average 383c/kg lw.
Processor/feedlotter activity picked up slightly this week to 8.64%, with 720 head of the sold offering pruchased. Buyers were particularly interested in steers weighing 400kg and above, with four lots purchased, while heifers in the 330-400kg range were also highly sought after.
Feeder steers remain closely priced with their weaner counterpart, with the premium relaxing slightly this week given the stronger prices received for lighter steers. The current price for feeder steers is at an 18 month high, with the last time 400kg + steers averaged above $1,800/head was the second week of February in 2023.
Lots that sold during the auction recorded strong prices against their reserves, averaging 7% above set reserves, whereas lots that sold after through negotiations sold 4% below.
Western Queensland was the largest listing region this week, with the 1,805 head slightly back on last week. The offering received some strong competition from both local and interstate buyers, with 85% of the offering selling and 50% of the sold offering heading interstate into NSW. The N.W. Slopes & Plains was the second largest listing region with 1,295 head offered and receiving strong competition with a 92% clearance rate.
Western Queensland was also the largest purchasing region this week, with 2,566 head entering the region. Western Queensland more than doubled the next highest region, which was again the N.W Slopes & Plains of NSW, who purchased 1,227 head.
Table 1: AuctionsPlus National Weekly Cattle Prices
Report: Interactive Market Dashboard
Steers 200-280kg more than halved from last week with the 1,056 head down 57% from last week. The smaller offering was met with positive buyer demand, as prices lifted $117 to average $1,080/head. On a cents per kilo basis, the category jumped 38c to average 431c/kg lw. From Cassilis, NSW, a line of 42 Angus steers aged 10 - 12 months and weighing 247kg returned $1,210/head, or 490c/kg lwt and will travel to a buyer in Merriwa, NSW.
Steers 400kg and above continue their run, lifting $56 to average $1,830 or 14c to average 418c/kg lw. The offering was smaller than last week by a third, and given the tight supply, the heavier steer category received some selective buying with a 78% clearance rate. From Nundle, NSW, a line of 80 Angus steers aged 10 - 12 months and weighing 419kg returned $1,801/head, or 430c/kg lwt.
Heifer categories enjoyed some strong price rises across the board this week, with the mid weight categories posting some strong prices.
The most populous heifer category was the 200-280kg category with the 1,874 head rising $144 to average $837/head – achieving a 90% clearance rate. From Bonshaw, NSW, a line of 70 Angus heifers aged 9 - 11 months and weighing 263kg returned $1,030/head, or 392c/kg lwt.
Heifers 280-330kg led the charge from a gains perspective, with the 976 head lifting $204 to average $1,161, or 65c to average 378c. From Culcairn, NSW, a line of 30 Angus heifers aged 12 - 14 months and weighing 317kg returned $1,860/head, or 587c/kg lwt.
Breeding stock had a strong week, with five categories rising on last week and only one falling. PTIC categories enjoyed some strong results, while NSM cows and calves recorded the strongest price gain.
PTIC heifers rose $173 on last week to average $1,790/head for the 622 head on offer. From Mungindi, QLD a line of 69 Santa Gertrudis PTIC heifers aged 16 to 20 months old, weighing 439kg and in calf to Angus LBW bulls returned $1,920/head.
Note: Prices as at 9pm Friday, August 16th, 2024.
AuctionsPlus commercial cattle market results were delayed by technical difficulties due to a third-party software provider on Friday. We apologise for any inconvenience.
Table 1: AuctionsPlus National Cattle Prices
Table 2: AuctionsPlus Queensland Cattle Prices
Table 3: AuctionsPlus Angus Cattle Prices
AuctionsPlus Interactive Cattle Market Report
FOR MORE: Read this week's sheep and lamb comments