AuctionsPlus commercial cattle numbers fell substantially again this week, decreasing by 26%, to 9,236 head offered.
The weekly indicators were all positive, with Value Over Reserve a standout, jumping ahead $43 to average $91/head above set reserves.
The market picked up mid to late in the week, but producers didn't react, rather they let the market dictate the price rise, which is why the VOR performed so well.
Clearance rates improved 4 percentage points on last week to close the week at 70%.
The AuctionsPlus Young Cattle Indicator increased 10c to 356 c/kg LW, while the benchmark steer indicator rose 3% to average $1,178/head.
Heifer results were the standout this week, with all categories apart from the 280-330kg recording significant gains on a per head basis. Heifers under 200kg were particularly impressive, with a $257/head increase on the previous week for the 340 head offered.
Processor/feedlotter activity lifted this week, with those buyers snapping up 9% of the offering. Agents and assessors noted there was competition from these buyers on SM Cows, indicating to agents they need to closely assess dressing percentages on any joined cows.
Queensland listed an addition 1000 head this week, elevating the state as the largest contributor to cattle listed on the platform this week, taking over from NSW, which listed 2000 less than last week. Queensland buyers were also the most active across the country.
Table 1: AuctionsPlus National Weekly Cattle Prices
Report: Interactive Market Dashboard
Steer prices were mixed this week, with price gains trending in the lighter weight categories and the heavy steers being stung with losses week-on-week.
Steers 330-400kg fell an average of $46/head this week and recorded a clearance of just 22%.
From Bellata, NSW, a line of 70 Angus steers aged 10 to 11 months old and weighing 276kg returned $1170/head, or 425c/kg lwt, and will travel to a buyer in Cobbadah, NSW.
Heifer prices were also mixed the week, with all categories in the green, except for the 280-330kg group, which dropped an average of $5/head.
Heifers under 200kg fetched an average of an additional $257/head with a clearance of 94%, while the 330-400kg category sold for an average of an additional $114/head and a 67% clearance rate.
From Ootha, NSW, a line of 40 Angus heifers aged 9 to 10 months old and weighing 271kg returned $950/head, or 350c/kg lwt, and will travel to a buyer in Mendooran, NSW.
Breeding stock categories mainly rose in value, with only two categories - SM Heifers and PTIC Heifers - falling by $26 and $70 respectively.
SM Cows and Calves had the second highest price rise from last week, at $448/head, but with the smallest clearance of 34%.
From Longreach, Queensland, a line of 80 Angus cows aged 4 to 9 years old and weighing 537kg returned $1290/head, or 240c/kg lwt, and will travel to a buyer in Longreach, Queensland.
Note: Prices as at 2pm Friday, July 5, 2024.
Table 1: AuctionsPlus National Cattle Prices
Table 2: AuctionsPlus Queensland Cattle Prices
Table 3: AuctionsPlus Angus Cattle Prices
AuctionsPlus Interactive Cattle Market Report