AuctionsPlus experienced a 39% decline in commercial cattle listings this week with 6,934 head offered. The disruption caused by the Australia Day public holiday led to a disjointed week, prompting cattle sales to run a day earlier. Consequently, there was a reduced yarding and diminished demand. Despite these challenges, prices demonstrated a strengthening trend across the board, with only one category from each steer and heifer categories declining while two categories from breeding stock fell. Despite the smaller yarding and stronger price trends, clearance fell by 9 percentage points to 76% as did VOR which fell 19% to average $123/head over set reserve rates.
Lots sold during the auction benefited from a 4.83% premium over those that sold post-sale, despite having on average a -13.47% lower set reserve. Clearance rates were also notably higher when the start and reserves were set within a 5% difference, averaging 88%, compared to a 44% clearance rate for lots with a larger spread of over 5%. Lots with a less than 5% difference between start and reserve rates, along with hitting the ‘on market’ status during the auction, had a significantly higher likelihood of selling and at a premium price.
Processors were active this week, with 19% of the sold offering being secured by a processer buyer, or 1,008 head going to seven different buyers. Purchases were made up of unjoined heifers and steers ranging between 242kg and 516kg average liveweight for a combination of breeds. Processers have made their presence felt in 2024, with purchasing averaging 17% in 2024, which is considerably up on 2023 which averaged 6% and the 8 year average of 9%.
Table 1: AuctionsPlus National Weekly Cattle Prices
Report: Interactive Market Dashboard
Steers
Steers 280-330kg averaged $1,271/head, rising $85 on last week for the 446 head on offer. The category recorded a 90% clearance rate. From Thargomindah, QLD a line of 102 Santa Gertrudis cross steers aged 8 to 12 months and weighing 327kg returned $1,350/head, or 413c/kg lwt.
Heifers
Heifers 330-400kg registered 972 head this week, with the offering hitting an 87% clearance rate and prices jumping $98/head to average $1,250/head. From Blayney, NSW a line of 68 Angus heifers aged 15 to 16 months and weighing 378kg returned $1,500/head, or 397c/kg lwt and will travel to a buyer in Albury, NSW.
Breeding stock
PTIC heifers experienced some strong returns this week, with the average price lifting $243 to average $2,062/head for the 444 head on offer which resulted in a 66% clearance rate. From Elingamite, VIC a line of 14 Angus heifers aged 23 to 24 months and weighing 580kg returned $2,520/head, and will travel into SA.
Note: Prices as at 2pm Friday, 19th January 2024
Table 1: AuctionsPlus National Cattle Prices
AuctionsPlus Interactive Cattle Market Report