Listings continued their strong start to the year on AuctionsPlus with a 14% lift in head offered to 19,457. Prices continue to show decent growth on the AuctionsPlus Young Cattle Indicator, up 13 points to 381. Benchmark steer prices in the 280-330kg category held strong at $1,225.Clearance fell to 61% on the larger listing but has been rising in post-auction activity. Nb: Prices are a snapshot of sale close at 2pm Friday.
Last week at 2pm the Value Over Reserve (VOR) was $130, but fell to $107 in post-sale negotiations. It appears that vendors are resetting their expectations, in a sign that the market is finding a new equilibrium. Given the 61% clearance rate this week, it can be expected that the VOR will drop again over the week.
After consistently seeing price rises across the board in recent weeks, buyers were much more discerning on which articles they wanted.
Quality of stock was a key factor for price and clearance, with young steers and heifers both up in terms of offering and price. Restockers were less active in the market. Clearance rates for breeding stock was low across many categories.
Processors were active again but less than last week, with 11% of the sold offering.
Table 1: AuctionsPlus National Weekly Cattle Prices
Report: Interactive Market Dashboard
Steers
Steers were mostly flat this week, with price gains only in the 200-280kg category. The larger offering of 2,005 head averaged $1,087/head - up $58 from last week for a 85% clearance. Prices ranged from 264 - 559c and averaged 462c/kg lwt. From Allora, NSW a line of 33 Angus cross steers aged 9 to 11 months and weighing 262kg returned $1260/head, or 481c/kg lwt and will travel to a buyer in Crows Nest, QLD.
Steers 330-400kg registered a similar offering of 2,285 head and averaged $1,361/head - up $3 from last week for a 69% clearance. Prices ranged from 251 - 423c and averaged 375c/kg lwt.
From Bonegilla, VIC a line of 49 Wagyu/Angus steers aged 10 to 11 months and weighing 366kg returned $1550/head, or 423c/kg lwt and will travel to a buyer in Camperdown, VIC.
Heifers
Heifers under 200kg, and over 400kg were the better performers this week, while the ranges in between did not clear well.
Heifers 200-280kg tripled to 1,978 head but were unchanged in terms of price at $850/head. Clearance was 50%. Prices ranged from 229 - 418c and averaged 335c/kg lwt. From Rolleston, QLD a line of 64 Santa Gertrudis heifers aged 6 to 12 months and weighing 240kg returned $900/head, or 375c/kg lwt and will travel to a buyer in Warren, NSW.
Heifers 0-200kg saw a five-fold increase to 486 head and averaged $729/head - up $55 from last week for a 82% clearance. Prices ranged from 292 - 468c and averaged 402c/kg lwt. From Tabulam, NSW a line of 10 AngusCross heifers aged 14 to 14 months old and weighing 163kg returned $480/head, or 294c/kg lwt and will travel to a buyer in Tenterfield, NSW.
Breeding stock
The pullback in breeding stock prices continued for station-mated articles, while preg-tested in calf stock mostly saw an uplift in prices but clearance rates were not encouraging.
SM Cows registered a larger offering of 309 head and averaged 1,908/head - down $530 from last week for a 25% clearance. SM Heifers registered a smaller offering of 275 head and averaged $1,364/head - down $529 from last week for a 23% clearance.
PTIC Heifers registered a larger offering of 1,940 head and averaged $1,910/head - up $158 from last week for a 32% clearance.
SM Cows and Calves registered a larger offering of 1,267 head and averaged 2,197/head - down $55 from last week for a 54% clearance. From Goulburn, NSW a line of 43 station-mated Angus cows aged 3.4 to 3.6 years old with calves and weighing 502kg returned $3040/head, or 606c/kg lwt and will travel to a buyer in Blayney, NSW.
Note: Prices as at 2pm Friday, 9th February 2024
Table 1: AuctionsPlus National Cattle Prices
AuctionsPlus Interactive Cattle Market Report
