AuctionsPlus commercial cattle listings fell by 30% this week to 12,434. The smaller offering saw good take-up by buyers however, with clearance rebounding 23 points on last week's poor showing to 59%.
Prices for benchmark steers 280-330kg rose by 8% while value over reserve also jumped $53 points to $76. The AuctionsPlus young cattle indicator also rose 23 points.
It was green pretty much across the board this week in terms of per head prices with a positive (50%+) clearance across 14 of the 20 categories listed on AuctionsPlus.
Across the larger listings of midweight steers and midweight heifers (between 200kg and 400kg), clearance was a strong 60-74%. Backgrounders looked to be active in the market, particularly out of Queensland where rain has been forecast.
Queensland buyers were most active in the heifer market, with an 83% clearance, while steers cleared at 69%. They have been active in buying stock out of NSW.
READ MORE: Queensland set for a soaking, potentially spreading to NSW
Across the platform, clearance was particularly strong for Angus at 79% for steers and 69% for heifers.
Breeding stock continues to be hard to shift, scraping along at 35% clearance across all AuctionsPlus sales.
That good clearance on heifers particularly might also have something to do with the vendors deciding to meet the market. This week, reserves dropped $100 across the board;
Heifers reserve dropped by $150
Steers reserve dropped by $10
Breeding stock dropped by $10
In fact, reserves and prices are tightening for stock that sells, as vendors who are keen to clear have been foreshadowing the market in terms of price expectation (average sold reserve/blue line)as you can see in the chart above. They have been enjoying a 4-10% bump in terms of value over reserve (orange line).
Vendors at the start of the year (grey line) who were overly optimistic in terms of price have failed to sell but in recent weeks they have begun to meet the market. Their optimism has returned this week, with the grey line again pointing upwards for, while the reserve for sold stock (blue line) has gone in the other direction. Check in for further analysis of this trend next week.
Table 1: AuctionsPlus National Weekly Cattle Prices
Report: Interactive Market Dashboard
Steers 200-280kg registered a 14% smaller offering of 1,692 head and averaged $1,067/head - up $186 from last week for a 74% clearance. Prices ranged from 191 - 469c and averaged 425c/kg lwt. From Bombala, NSW a line of 75 Angus steers aged 6 to 8 months and weighing 271kg returned $1205/head, or 444c/kg lwt and will travel to a buyer in St George, QLD.
Steers 330-400kg registered a 36% smaller offering of 1,735 head and averaged $1,191/head - up $15 from last week for a 67% clearance. Prices ranged from 290 - 394c and averaged 330c/kg lwt. From Moama, NSW a line of 132 Charolais/Santa Gertrudis steers aged 10 to 12 months and weighing 357kg returned $1200/head, or 336c/kg lwt and will travel to a buyer in Warrnambool, VIC.
Heifers 200-280kg registered a 25% larger offering of 1,017 head and averaged $676/head - up $13 from last week for a 65% clearance. Prices ranged from 210 - 372c and averaged 288c/kg lwt. From Tamworth NSW, a line of 11 Shorthorn heifers aged 7 to 8 months and weighing 244kg returned $910/head, or 372c/kg lwt and will travel to a buyer in Dunedoo, NSW.
Heifers 280-330kg registered a 28% smaller offering of 1,144 head and averaged $907/head - up $ from last week for a 77% clearance. Prices ranged from 258 - 333c and averaged 312c/kg lwt. From Barraba, NSW a line of 112 Angus/Angus heifers aged 14 to 18 months old and weighing 291kg returned $970/head, or 333c/kg lwt and will travel to a buyer in St George, QLD.
PTIC Heifers registered a 3% larger offering of 1,009 head and averaged $1,695/head - up $278 from last week for a 10% clearance. From Tarcutta, NSW a line of 24 Angus heifers aged 18 to 20 months and weighing 431kg returned $1530/head, or 355c/kg lwt and will travel to a buyer in Wellington, NSW.
PTIC Cows registered a 38% smaller offering of 881 head and averaged $1,452/head - down $224 from last week for a 56% clearance. From Scone, NSW a line of 6 Pure Simmental cows aged 2.5 to 4.5 years and weighing 538kg returned $2000/head, or 372c/kg lwt and will travel to a buyer in Baerami Creek, NSW.
Note: Prices as at 2pm Friday, 22nd March 2024
Table 1: AuctionsPlus National Cattle Prices
AuctionsPlus Interactive Cattle Market Report
