AuctionsPlus commercial cattle numbers increased this week, with 14,065 head yarded—a 13% rise from last week. It was a mixed week for the indicators, with two lifting and three falling. The lighter end of the steer and heifer market saw declines, while mid to heavier weight steers experienced gains. However, the mid to heavier weight heifer market showed more variation.
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.
The larger offering created more opportunities for buyers to spread their risk, resulting in a 5-percentage-point drop in the clearance rate to 67%. This decrease was reflected in the value over reserve, which fell by $47, averaging $72 above set reserves. The decline at the lighter end of the market was evident in the 20c/kg liveweight drop in the AuctionsPlus Young Cattle Indicator, which averaged 352c/kg liveweight. On a positive note, the 280-330kg steer category rose 3% compared to last week’s prices, finishing at $1,265.
The price gap between weaner steers and heifers widened again this month, with weaner steers enjoying a 19% premium over their heifer counterparts. Meanwhile, the premium between weaner steers and feeder steers narrowed further this week, coming close to parity for the first two weeks of August, with only a 7c/kg premium for weaner steers.
When examining this week in isolation, feeder steers (400kg and above) on a cents per kilo basis enjoyed the highest average for all steer categories. Feeder steers averaged 412c, which was 6c above the 280-330kg steer category, which averaged 406c.
A highlight of the week was for a line of 72 Angus/Angus/Hereford EU feeder steers from Drik Drik, Victoria, aged 16 - 17 months old and weighing 490kg returned $2,120/head, or 433c/kg lwt and will travel north to NSW. This lot was highly contested, with three buyers competing from two different states.
Processor/feedlotter activity remained steady this week at 7.34%, with 693 head of the sold offering picked up. Buyers showed particular interest in steers weighing 330-400kg and 400kg and above, while also acquiring a few mid-weight heifer categories.
Listings increased in most states, with the exception of Queensland, which saw a decline of 1,230 head, listing 4,860. New South Wales recorded the largest gain, listing 1,848 more head than last week, bringing the total to 6,668 head.
Table 1: AuctionsPlus National Weekly Cattle Prices
Report: Interactive Market Dashboard
Steers 280-330kg registered a smaller offering this week, with 1,452 head, down 29% from last week, while prices lifted by $37 to average $1,265/head, and a 82% clearance rate was achieved. From Braidwood, NSW a line of 90 Angus steers aged 10 - 11 months and weighing 321kg returned $1,390/head, or 434c/kg lwt.
As mentioned previously, Steers 400kg and above have sustained their strong run, with the 700 head lifting $81 on last week to average $1,830/head or 412c/kg lw. From Tintaldra, VIC a line of 75 Angus steers aged 11 - 13 months and weighing 453kg returned $1,931/head, or 427c/kg lwt.
Heifer categories declined across the board this week, with the 280-300kg category the only one to buck the trend and post some modest gains. The category recorded 973 head, which averaged $1,193 head – an increase of $12 from last week. From Bonshaw, NSW a line of 35 Angus heifers aged 10 - 12 months and weighing 306kg returned $1,260/head, or 411c/kg lwt.
Heifers 400kg and above also posted the highest average c/kg price across all the heifer categories, with the tight 372 head averaging $1,497 or 352c/kg, falls of $93 and 29c respectively. The tight supply was keenly sought, achieving an 85% clearance rate. From Cassilis, NSW a line of 49 Angus heifers aged 20 - 24 months old and weighing 457kg returned $1,690/head, or 370c/kg lwt.
Breeding stock recorded falls throughout most categories, with SM heifers and cows the only two to record price increases on last week.
Station mated cows averaged $2,048/head, an increase of $387 for the 347 head on offer. From Murrindindi, VIC, a line of 7 Angus cows aged four years old and weighing 789kg returned $2,430/head.
Station mated heifers averaged $1,942/head, an increase of $580 for the 344 head on offer. From Barraba, NSW two lines of 69 Angus heifers aged 33 - 48 months and weighing 486kg returned $2,260/head each.
Note: Prices as at 2pm Friday, August 9th, 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
