Commercial cattle offerings took a step back this week, with the 9,516 head offered down 23% on last week and 48% on the same week last year. With the smaller offering came some rejuvenated competition through the quality young heifer lines, with the average value over reserve picking up 17% on last week, to $118/head. PTIC heifer demand continues to suffer from the rapidly eroding rebuilding sentiment, with the 2,877 head selling to a disappointing clearance rate and significant decline in prices.
The first week of February signals the return to routine for the cattle markets, with the disruptions and volatility of December and January in the rearview mirror. With prices well back on year-ago levels and the EYCI trading in the upper half of the 700’s, producers have been forced to quickly readjust expectations, even with plenty of feed still in the paddocks. With clearance rates well below average at the conclusion of recent weeks auctions, its clear that many buyers are taking a “wait-and-see” approach in a falling market.
Table 1: AuctionsPlus National Weekly Cattle Prices
Table 2: AuctionsPlus Queensland Cattle Prices
Table 3: AuctionsPlus Angus Cattle Prices
At the immediate conclusion of todays auctions, the average clearance rate was 45% for the entire offering – ranging from 93% for 274 200-280kg steers, to only 23% for the comparatively large offering of 2,877 PTIC heifers. For context, in the corresponding week last year, there was 18,279 head offered with the 1,392 200-280kg steers registering an 82% clearance rate and PTIC heifers, with 3,445 head offered, hitting 75%. Prices for both categories are down 33% and 27%, respectively.
Tighter numbers through the five young steer categories failed to rally prices, with all but the heaviest lines registering a decline on last week on a $/head basis. The largest category for the week, 280-330kg steers, with 831 head offered, averaged $59 lower on last week, at $1,423/head. From The Rock, in the NSW Riverina, 53 weaned Ultrablack/Angus steers, averaging 287kg sold to $1,510/head.
Feeder steer demand was steady this week, with the 436 head offered selling to a 49% clearance rate, with prices average $7 higher on last week, at $1,879/head – while in c/kg terms, prices averaged 3c cheaper, at 411c/kg lwt. 330-400kg steers average $60 lower this week, at $1,579/head, with a comparatively healthy 72% clearance rate for the 531 head offered. 32 weaned Angus steers from Camperdown in Southwest Victoria, averaging 356.4kg sold to $1,750/head.
There was a very thin offering through the lightest steer lines this week, with the 274 200-280kg steers averaging a high clearance rate of 93%, while prices averaged $145 lower on last week, at $1,184/head. 103 weaned Angus/Santa Gertrudis/Brahman steers, averaging 232.7kg out of Moonie, Southern Queensland, sold to $1,370/head
For the young heifer market, there was some steady demand through the mid-weight lines, with the 330-400kg lines up $47 on last week, to average $1,516/head. From Tooraweenah in Central West NSW, 21 380kg Angus/Hereford heifers sold to $1,500/head. 280-330kg heifers averaged $1,458/head this week, up $65, with the 436 head offered registering a 50% clearance rate at the immediate close of the auction. 31 weaned Santa Gertrudis heifers, from Eidsvold, Southern Queensland, sold to $1,180/head – averaging 280.8kg/head.
56 Angus NSM future breeders, averaging 404.2kg, from Glen Innes on the NSW Northern Tablelands sold to $1,900/head, equating to 470c/kg. For the wider 400kg+ heifer category, the 422 head offered sold to a 25% clearance rate, averaging $1,720/head.
PTIC heifers again dominated the breeding market, with plenty of pre-auction enquiries failing to translate to sales, with the 23% clearance rate signaling some very selective and cautious buying. For the 2,877 head offered, prices averaged $327 lower on the previous week, at $2,344/head. From Augathella, Western Queensland, 55 Droughtmaster PTIC heifers sold to $1,630/head, averaging 361.2kg/head. Out of Armidale on the NSW Northern Tablelands, 40 Angus PTIC heifers, averaging 509.3kg/head, sold to $2,420/head.
PTIC cows were the only other major breeding category to register steady numbers this week, with the 801 head registering a 33% clearance rate and averaging $2,556/head – up $96.
From Walla Walla, NSW Riverina, 12 Angus PTIC cows with 12 CAF sold to 3,760/head. The PTIC cows on offer averaged 711.7kg/head while the calves ranged from 6-7 months of age and averaged 261/kg.
Note: Prices as at 2pm Friday, 3rd February 2022
Table 1: AuctionsPlus National Cattle Prices
Table 2: AuctionsPlus Queensland Cattle Prices
Table 3: AuctionsPlus Angus Cattle Prices