AuctionsPlus commercial cattle numbers fell substantially this week, decreasing by 26%, to 12,416 head offered. Despite a tighter supply pool, the weekly indicators were mixed, with Value Over Reserve reducing by $19 to average $64/head above set reserves, while clearance improved slightly on last week to close the week at 56%. Prices were stronger for steer categories, while heifers experienced declines throughout the weight tiers. The AuctionsPlus Young Cattle Indicator fell 16c to 351 c/kg LW, while the benchmark steer indicator rose 3% to average $1,144/head.
Steer results were the standout this week, with all but the lightest category experiencing price increases. Clearance rates were varied, mainly driven by supply, with the more heavily populated midweight steer categories seeing clearance range from 64% to 77%. Both the lightest and the heaviest steer categories almost had perfect weeks, with all 96 steers over 400kg selling and 97% of the 287 steers under 200kg selling.
The sold-at-auction premium for the month of June is averaging 9.11% above post-auction sale results. The weaner steer to heifer gap has widened further in the past 7 days, with steers outperforming their heifer counterparts by 17%, which is 5% above the one-month average of 12%, although slightly below the yearly average of 18.84%. Feeder steers are trailing weaner steers by 26c/kg.
The difference between set start and reserve rates before the sale had a significant impact on clearance rates this week. Lots reserve rates that were set at 5% and under above the start price returned a 68% average clearance, whereas those set further apart, above 5%, only averaged a 37% chance of selling.
Processor/feedlotter activity was subdued this week, with 3.39% of the sold offering being secured by a processor or feedlotter. Buyers were particularly interested in steers weighing 280-330kg and 330-400kg, while some bidding action was seen across some cow categories.
Listings fell from all states, with the largest drops in SA, down 68% to a thin 187 head, and Tasmania, where listings were down 47% to 129 head offered. NSW was the source of the largest chunk of cattle, with the 6,021 head down 28% from last week.
Table 1: AuctionsPlus National Weekly Cattle Prices
Report: Interactive Market Dashboard
Steer prices were stronger across the board this week, with price gains felt throughout all categories apart from the lightest category.
Steers 280-330kg registered a smaller offering this week, with 1,377 head, down 39% from last week, while prices lifted by $36 to average $1,144/head, and a 77% clearance rate was achieved. From Guyra, NSW, a line of 71 Angus steers aged 10 to 11 months old and weighing 311kg returned $1,300/head, or 418c/kg lwt, and will travel to a buyer in Tenterfield, NSW.
Steers 330-400kg rose $76 this week to average $1,396/head, with returned prices averaging 4.19% above set reserve rates. Supply was much tighter this week, with 781 head, down 53% from last week, and the category achieving a 64% clearance rate. From Niangala, NSW, a line of 40 Angus steers aged 10 to 11 months old and weighing 386kg returned $1,560/head, or 404c/kg lwt, and will travel to a buyer in Southern Queensland.
Heifer supply fell across all categories this week, especially for heifers under 200kg, which registered a 59% reduction in numbers. The smaller supply did little to lift competition, with prices falling for all categories on a $/head basis, and all but one falling on a c/kg basis. Clearance rates were extremely varied, with a large spread from 14% to 62% across the categories. Demand increased with weight, with the lightest categories experiencing the weakest competition and the heavier end of the market registering higher clearance rates.
Heifers 200-280kg was the only category to report a price rise this week, with the category averaging 285c/kg lwt, increasing 2c on last week. Supply fell by 22% to 1,823 head, and competition was subdued with a 48% clearance rate. From Glen Innes, NSW, a line of 28 Angus heifers aged 7 to 9 months old and weighing 261kg returned $860/head, or 330c/kg lwt, and will remain local.
Heifers 330-400kg registered a smaller offering of 317 head, with prices falling 9c to average 298c/kg lwt. Clearance for the category was the strongest across all heifer categories, with a 63% clearance rate achieved. From Stony Creek, VIC, a line of 25 Angus heifers aged 16 to 18 months old and weighing 387kg returned $1,380/head, or 357c/kg lwt.
Breeding stock categories mainly fell in value, with four categories falling and two categories rising. Clearance rates were also very varied, ranging from a low of 7% to a high of 96%. PTIC heifers was one of the categories to report a price rise, with 612 head registering a $306 rise to average $1,643/head. From Morven, NSW, a line of 23 Angus heifers aged 22 to 23 months old and weighing 479kg returned $2,100/head.
Note: Prices as at 2pm Friday, 28th June 2024
Table 1: AuctionsPlus National Cattle Prices
Table 2: AuctionsPlus Queensland Cattle Prices
Table 3: AuctionsPlus Angus Cattle Prices
AuctionsPlus Interactive Cattle Market Report