AuctionsPlus commercial cattle numbers fell 9% this week, seeing 15,220 head offered, with clearance improving on last weeks lacklustre results to see a 59% clearance rate. The returned value over reserve fell sharply to $49, while the AuctionsPlus Young Cattle indicator increased by 42c to 397c/kg LW.
It was a strong week for lighter unjoined heifers, with the three lightest categories all registering stronger prices. Prices received over reserve for these categories were particularly high, with heifers 200-280kg averaging 17.56% above their set reserve rates, demonstrating the increase in demand this week for buyers to secure unjoined heifer articles. Further, the weaner price gap has closed considerably between steers and heifers on the back of the strong heifer prices, with the gap averaging 3.42% in favour of steers. This is well below the average for 2024 of 21% and is a considerable turnaround, given last week was the highest gap between weaner steers and heifers recorded on AuctionsPlus.
The sold-at-auction premium continues to be strong in June, with prices received during the auction 12.51% above post-auction sales and currently averaging 10.74% for the month. Feeder prices also continue to be strong, with the gap between weaners and feeders trading very close together, with feeders only 29c/kg less than weaner prices this week.
Listings were dominated by NSW and Queensland this week, with NSW offering 6,861 head, down 17% or 1,444 head, and Queensland seeing 4,577 head listed, which was down 61 head. The balance of the offering was from Tasmania, Victoria and South Australia.
Processor/feedlotter activity was fairly subdued this week, with 4.49%, or 401 head, of the sold offering being secured by processor/feedlotter buyers. Interestingly, the number of lots purchased increased substantially, with ten lots sold to processors. The main categories of interest were steers in the 330-400kg range with 5 lots purchased from this category, followed by steers 400kg and above with 4 lots picked up.
Table 1: AuctionsPlus National Weekly Cattle Prices
Report: Interactive Market Dashboard
Steer prices was strongest at the heavier end of the market, with price gains recorded for the two heaviest categories, while the remaining three categories fell in value. Clearance rates were varied, with strong demand for steers over 400kg and the thin selection of light cattle under 200kg, while weaker demand was felt throughout the mid weight categories where supply was higher.
Steers 280-330kg was the most heavily populated category this week with the 2,170 head met with strong demand at a 79% clearance rate, while prices eased on last week by $24 to $1,140/head. From Scone, NSW, two lines of 60 and 61 Angus backgrounder steers were offered by a single vendor and sold at $1,380 and $1,360/head. Both of these lines were 9 to 11 months of age and averaged 323kg lw.
Steers over 400kg lifted in price by $252 to average $1,720/head for the 729 head on offer. In cents per kilo, the price gain increased 67c to average 393c/kg LW. Demand remains incredibly strong for this category, with a 99% clearance rate achieved. From Denman, NSW a line of 47 Angus feeder steers aged 20 to 23 months old and weighing 463kg returned $1,920/head, or 415c/kg lwt and will travel to a buyer in Queensland.
Heifer prices were the opposite of their steer counterparts this week, with the gains recorded in the lighter end of the market. Heifers 200-280kg recorded the largest movement this week, with the 1,377 head increasing $119 to average $886/head and to strong demand with a 88% clearance rate. From Hawkesdale, VIC a line of 98 Angus heifers aged 9 to 10 months old and weighing 250kg returned $1,170/head, or 468c/kg lwt and will travel to a buyer in Moree, NSW.
Not included in the weekly national price table was the large number of Wagyu heifers catalogued this week. These lines were removed from the weekly table due to their high selling price. From Clermont, QLD, a single vendor offered two lines of 111 and 89 NSM future breeder purebred Wagyu heifers selling at $2,220/head for both lots.
From Westmar, QLD, a different vendor offered four lines of Wagyu heifers varying in age between 18 to 24 months old and 270-371kg lw, with prices ranging between $1,480 - $2,060/head.
Breeding stock were mixed this week with three categories rising and three falling. The rises were led by PTIC cows which recorded a $219 weekly rise to average $1,807/head for the 1,051 head. From Culcairn, NSW a line of 7 Angus APR stud PTIC cows aged 2.8 to 3 years old and weighing 569kg returned $3,075/head.
Note: Prices as at 2pm Friday, 24th May 2024
Table 1: AuctionsPlus National Cattle Prices
AuctionsPlus Angus Table
AuctionsPlus Queensland Table
AuctionsPlus Interactive Cattle Market Report