AuctionsPlus commercial cattle listings fell by 4% to 14,978 head this week. The average Value Over Reserve jumped $31 to $100 and the clearance rate also increased 6 percentage points to 61%. The AuctionsPlus Young Cattle Indicator fell 37 points to 339, meanwhile benchmark steers 280-330kg were firm at $1,100.
Feeder prices are rallying and this week enjoyed a 99% clearance rate. Feeder steers are also trending towards a potential premium over weaner steers in coming weeks, as observed in the graph below.
Occasionally, feeder weight cattle (350-450kg range) trade at a premium over weaner weight cattle (250-350kg), presenting opportunities for those who have the ability to grow their steers to these weight targets.
A positive feeder steer premium was last fully observed in 2018 -2019, when the national herd was at record lows and three years of drought had forced many producers to sell due to feed and water limitations.
Last year we had a slight feeder premium for steers during August, September and October before reversing in November.
READ MORE: Will the feeder premium continue into 2024?
Weaners vs Feeders. Source: AuctionsPlus
States largely recorded reduced listings, apart from NSW, which enjoyed an increase of 1,556 head to 8,217, and WA re-entered the market with an offering of 52. NSW producers also purchased nearly 2000 more head than last week, with other states recording falls, apart from WA and NT with small purchases.
Processor activity more than doubled from 5% last week to 11% this week.
Table 1: AuctionsPlus National Weekly Cattle Prices
Report: Interactive Market Dashboard
There were drops in listings in two categories - sub 200kg and 330-400kg. The largest category in head offered was for steers 280-330kg up 56% to 2,373 head. Prices were flat at $1,100/head on average for a 64% clearance. Prices ranged from 127 - 416c and averaged 352c/kg lwt.
From Wagga Wagga, NSW a line of 88 Angus steers aged 10 to 14 months and weighing 325kg returned $1,240/head, or 382c/kg lwt and will travel to a buyer in Anakie, VIC.
Steers 330-400kg were down 21% in terms of head offered but saw a price jump of $159 to $1,325 per head. Clearance was a healthy 76%.
It was a mixed bag for heifers with price strong price gains for mid-weight articles in 200-400kg range but sizeable drop for heifers in the 200-280kg class.
Heifers 280-330kg registered a slightly larger offering of 1,576 head and averaged $989/head - up $155 from last week for a 59% clearance. Prices ranged from 242 - 350c and averaged 321c/kg lwt.
From Blackall, QLD a line of 97 Santa Gertrudis/Santa Gertrudis heifers aged 12 to 20 months old and weighing 300kg returned $1,050/head, or 350c/kg lwt and will travel to a buyer in Cobar, NSW
Breeding stock saw price gains across most categories except NSM Cows and Calves and PTIC Cows and Calves.
PTIC Heifers and PTIC Cows were the highest offered stock at 1200 head or thereabouts with price gains of $370 and $247 respectively.
From Inverell, NSW a line of 10 PTIC Angus heifers aged 18 to 19 months old and weighing 425kg returned $2,150/head, or 506c/kg lwt and will travel to a buyer in Rainbow, VIC.
The big jump in price was for NSW Heifers and Calves which jumped $1,435 a head on average across the 244 offered.
From Merriwa, NSW a line of 50 Angus heifers with calf aged 2 to 3 years old and weighing 515kg returned $2,900/head, or 563c/kg lwt and will travel to a buyer in Scone, NSW.
Note: Prices as at 2pm Friday, 3rd May 2024
Table 1: AuctionsPlus National Cattle Prices
AuctionsPlus Angus Table
AuctionsPlus Queensland Table
AuctionsPlus Interactive Cattle Market Report