Weekly Cattle Comments - 04.11.22

AuctionsPlus commercial cattle offerings increased 16% this week, to 16,517 head, with numbers increasing across all states except Victoria. Consistent price trends were hard to find through the young cattle market this week, with the see-sawing weekly movements likely to continue for the remainder of the year. The overall clearance rate hit 74% this week at the immediate close of the sale, with the average value over reserve easing back 12%, to $243/head.

With the extent of the flooding through large swathes of eastern Australia, the weekly volatility in supply and subsequently, price movements, is likely to be a “feature” of the market for several months to come. With the current outlook for above average falls into early 2023, producers are set to jump at opportunities to move stock and generate cash flow – with the research into location of desirable lines and suitability of access roads increasing significantly this week. An increased offering of 200-280kg steers, at 1,818 head, contributed to an overall decline in the average price for the week, slipping $205/head on last week, to $1,729/head. Despite the much larger offering, the clearance rate jumped to 75% this week, up from the very subdued 49% last week. From Richmond, Northern Queensland, a large run consisting of 152 Brahman cross steers aged 12-15 months weighing 247kg lwt returned $1,300/head.

Table 1: AuctionsPlus National Weekly Cattle Prices
Table 2: AuctionsPlus Queensland Weekly Cattle Prices
Table 3: AuctionsPlus Angus Weekly Cattle Prices

280-330kg steers dropped $253/head on last week, to averaged $2,091/head. Contributing to the decline for the week was a more than doubling of supply, with 2,129 head offered selling to a 73% clearance rate. In contrast, 330-400kg steers managed to finish the week higher on last week, at $2,255/head – with a 77% clearance rate for the 1,123 head offered. From Uralla, NSW, a line of 19 Angus steers aged 10-12 months weighing 370kg lwt returned $2,430/head – selling for $400 above their reserve.

Feeder steer numbers kicked 125% higher for the week, to 1,696 head, finishing with a 62% clearance rate. After last week’s $258 jump, prices averaged $38 lower this week, at $2,348/head. A line of 14 Angus yearling steers aged 16-18-months from Launceston, Tasmania, weighing 456kg lwt returned $2,760/head and will travel to Smithton, Tasmania. Out of the north, a large line of 113 Santa Gertrudis steers from Barcaldine, Queensland, aged 20-26 months and weighing 480kg lwt returned $2,370/head – headed to Dalby, Queensland.

There were again some large price moves through the young heifer lines this week, as quality and location played a major part in buyers’ intentions. 200-280kg heifers averaged $224 higher this week, with the 1,252 head averaging $1,622/head and hitting an 82% clearance rate. A line of 30 Angus heifers from Crow’s Nest, Southern Queensland, aged 12-15 months weighing 279kg lwt returned $2,220/head – selling $600 above reserve price to a buyer in Milmerran, Queensland.

After a considerable drop last week, 280-330kg heifers averaged $397 higher on last week, at $2,133/head. Contributing to the jump in the average price was three even lines totaling 150 head of Angus future breeder heifers from Goolma, NSW. Aged 14-16 months and weighing an average of 300kg lwt, the heifers returned $2,460/head - $400 above reserve price, to a buyer in Dubbo, NSW.

A 22% jump in the supply of 330-400kg heifers, to 1,583 head, had a minor impact on overall returns for the category – slipping back $23 on last week, to average $2,182/head. From Camperdown, Victoria, a line of 75 13-14-month-old Angus heifers weighing 351kg lwt returned $2,640/head - $440 above their reserve. The heifers will travel to a buyer in Macorna, Victoria.

A very thin offering of 400kg+ heifers contributed to a $272 decline in the average price for the week, erasing all of last weeks $86 increase. Averaging $2,314/head, the 405 head sold to a 70% clearance rate, with a line of 19 heifers from Henty, NSW Riverina aged 15-16 months and weighing 416kg lwt returned $2,530/head.

The breeding section of the market continues to be very selective on both sides of the transaction. PTIC heifers made up most of the market, with the 1,985 head offered hitting a 53% clearance rate. After last week’s massive $467 price jump, the average slipped back $78, to $2,821/head. A line of 46 PTIC Angus heifers aged 19-26 months from Walcha, NSW, weighing 491kg lwt returned $4,000/head. The heifers were joined to high marbling Wagyu bulls and will travel to Gracemere, Queensland.

PTIC cow numbers halved on last week, with the 654 head offered selling to a 79% clearance rate and averaging $3,105/head. From Glen Innes, NSW, a line of 18 4-year-old Angus/Hereford cows weighing 656kg lwt returned $3,380/head, heading to a buyer in Molong, NSW.

From Padthaway, South Australia a line of 15 unjoined Angus cows aged 7-8 years and weighing 646kg lwt with CAF returned $3,850/head and will travel interstate to Merino, Victoria.

Out of Adelong, NSW, two even lines totaling 52 head of 2-year-old Angus cows joined to Moogenilla Angus bulls weighing 526kg lwt, returned $4,640/head. The calves at foot were 3-4-months in age and averaged 140kg lwt.

NOTE: Prices as at 2pm, Friday 4th November 2022

Table 1: AuctionsPlus National Cattle Prices

Table 2: AuctionsPlus Queensland Cattle Prices

Table 3: AuctionsPlus Angus Cattle Prices