AuctionsPlus commercial cattle numbers lifted 31% this week to 12,441 head offered. The Value Over Reserve increased $40/head to $119, indicating that reserves are being set at optimal levels.
AuctionsPlus launched its price discovery tool only two weeks ago - perhaps this is helping producers and agents nail reserves. When done right, this can have a positive effect on vendor results.
As the Spring selling season kicks off, the benchmark steer indicator and AuctionsPlus Young Cattle Indicator both remained steady.
Heavy steers prices backtracked this week, with those in the 400kg+ category falling $124/head to $1,725, after gaining $318/head last week.
Lighterweight heifers recorded the greatest gains per head compared to the previous week.
Processor/feedlotter activity lifted to nearly 8% from 5% last week.
Both NSW and Queensland vendors listed more than 1,000 head more this week, while listings fell in Victoria. There were similar movements in buying behaviour across the states, with NSW and Queensland recording more purchases and Victoria and SA decreasing.
Table 1: AuctionsPlus National Weekly Cattle Prices
Report: Interactive Market Dashboard
Steers in the 200-280kg category attracted the biggest gains per head compared to the previous week - with an average of an additional $57/head to $1,025.
From Binda, NSW, a line of 46 Angus steers aged 9 to 10 months old and weighing 239kg returned $1120/head, or 469c/kg lwt, and will travel to a buyer in Wagga Wagga, NSW.
Heifers under 200kg lifted an average of $96/head this week to $683 for an 81% clearance.
From Holbrook, NSW, a line of 52 Angus heifers aged 8 to 9 months old and weighing 192kg returned $680/head, or 354c/kg lwt, and will travel to a buyer in Bathurst, NSW.
There were mixed results within the reduced offering of breeding stock, including a $409/head boost to $1,917 for PTIC Cows. This category achieved a 20% value over reserve.
Meanwhile, a small offering of SM Heifers and Calves dropped an average of $619/head to $1,781 with a clearance of 100%.
From Aberfoyle, NSW, a line of 22 Angus cows aged 3 years old and weighing 456kg returned $2300/head, or 505c/kg lwt, and will travel to a buyer in Quirindi, NSW.
Note: Prices as at 2pm Friday, August 2, 2024.
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
