AuctionsPlus commercial cattle listings reached a level not seen since since early June, soaring 47% this week to 15,104 head. While clearance dropped to 79% from last week's 91%, buyer appetite remained robust with steers in all categories showing strong price gains. Breeding stock also saw a significant bump, particularly for station mated cows and heifers and PTIC cows. Value over reserve remained an impressive $147, although it did drop slightly, down $8*.
As noted in our recent article regarding feeders and weaners, the recent rain and improved availability of pasture has reversed the recent trend of feeders enjoying a price premium.
READ MORE: Will the feeder premium continue into 2024?
That appears to be particularly the case for the southern states, with AuctionsPlus's weaner and yearling sale for NSW, VIC and SA on Friday recording over 5,500 head offered for a 92% clearance. With nearly 2,000 bids in 2 hours, the sale delivered an impressive average of $1,137 per lot.
The weaner and yearling sale for northern NSW and Queensland did not see as exuberant buying. The 6,829 head delivered a 70% clearance and an average of $998, although prices jumped to as much as $1,470 for 'good black cattle' according to the AuctionsPlus market team.
Feedlotters have also been unusually active in the market this week, perhaps due to the impact recent rains have had on deliveries, securing 12% of the sold offering. Recent price drops for beef at the supermarket may also be pulling more feedlotters/processors into the market. According to the MLA, volume is up nearly 8% year-on-year in the last 3 months, as consumers fill their baskets with cheaper beef.
Table 1: AuctionsPlus National Weekly Cattle Prices
Table 2: AuctionsPlus Queensland Cattle Prices
Table 3: AuctionsPlus Angus Cattle Prices
Report: Interactive Market Dashboard
Steers
Steers were in particular demand across the platform with all categories rising in listings and price gains.
Steers 200-280kg registered a larger offering of 1,145 head and averaged $958/head - up $49 from last week for a 84% clearance. Prices ranged from 181 - 470c and averaged 387c/kg lwt. From Scone, NSW a line of 70 Angus steers aged 6 to 9 months old and weighing 206kg returned $970/head, or 470c/kg lwt and will travel to a buyer in Dirranbandi, QLD.
Steers 400kg and above doubled in terms of offering but it didn't hurt prices. Across the 2,180 head, prices rose $100 to average $1,316/head while still delivering a 91% clearance. Prices ranged from 152 - 319c and averaged 298c/kg lwt. From Condobolin, NSW a line of 75 Angus steers aged 15 months old and weighing 461kg returned $1,470/head, or 319c/kg lwt and will travel to a buyer in Jondaryan, QLD.
Young steers were in particular demand with supply down on last week. Steers under 200kg on offer decreased 25% to 131 head and averaged $763/head. That is a $225 per head price rise on last week for a 100% clearance. Prices ranged from 348 - 508c and averaged 466c/kg lwt. From Pallamallawa, QLD a line of 95 Angus steers aged 4 to 6 months old and weighing 163kg returned $830/head, or 508c/kg lwt and will travel to a buyer in Boomi, NSW.
Heifers
Heifers 200-280kg registered a larger offering of 1,677 head but had a weaker showing in terms of price. Prices averaged $748/head, a fall of $23 from last week. Clearance at 87% remained strong. Prices ranged from 194 - 333c and averaged 296c/kg lwt. From Tooma, NSW a line of 92 Angus heifers aged 13 to 15 months old and weighing 285kg returned $935/head, or 328c/kg lwt and will travel to a buyer in Bendigo, VIC
Heifers 330-400kg registered a larger offering of 1,136 head and averaged $1,043/head - up $112 from last week for a 68% clearance. Prices ranged from 193 - 329c and averaged 287c/kg lwt. From Augathella, QLD a line of 90 Santa Gertrudis/Angus heifers aged 13 to 18 months old and weighing 383kg returned $1130/head, or 295c/kg lwt and will travel to a buyer in Moura, QLD.
Breeding stock
Most categories of breeding stock delivered price gains, although clearance was patchier.
SM Cows & Calves registered a smaller offering of 346 head and averaged $2,004/head - up $352 from last week for a 99% clearance. From Molong, NSW a line of 113 Charolais cross cows aged 3 to 6 years old and weighing 512kg returned $1930/head, or 377c/kg lwt and will travel to a buyer in Gunnedah, NSW.
PTIC Cows more than doubled in terms of offering to 480 head and also increased in average price. While clearance dropped to 68% compared to last week's 98%, prices rose $267 to average $1,935/head. From Branxholme, NSW a line of 66 Angus cows aged 31/4 years old and weighing 538kg returned $2,020/head, or 376c/kg lwt and will travel to a buyer in Meningie, SA.
Note: Prices as at 2pm Friday, 1st of December 2023
* calculations are subject to post sale transactions, and therefore may differ from previous week's figures which are a snapshot of a point in time.
Table 1: AuctionsPlus National Cattle Prices
Table 2: AuctionsPlus Queensland Cattle Prices
Table 3: AuctionsPlus Angus Cattle Prices
AuctionsPlus Interactive Cattle Market Report
