Weekly Cattle Comments - 09.09.22

Increased numbers continue to roll into AuctionsPlus weekly commercial cattle sales, with total listings hitting 14,416 head – up 10% on last week.The highest offering in 10 weeks was met with fierce competition, as producers gear-up for the remainder of the year. Clearance reached 80% across the sales, while prices paid by buyers averaged $265 over the reserve prices set by vendors. Confidence appears to be back, with the commercial cattle market and bull buying season rolling-on in style.

While wet and cold conditions have delayed the normal Spring surge of offerings, young stock are starting to reach target weights and hit the market, with 10,646 head offered in the Weaner and Yearling sales this week. In contrast, breeding stock remain scarce, as many producers decide to retain and join as many females as possible - leading to only 3,192 head offered in the Eastern States sale. While significantly better prices than mid-winter, the market is still finding an equilibrium level, with mixed results for most categories, while clearance rates remained robust across the board.

The steer portion of the market searched for a middle ground this week, with heavy steers rising and medium steers falling. A larger offering of 340 light steers averaged $1,360/head, with a 97% clearance. While a smaller offering of 200-280kg steers lost some of last week’s gains, to average $1,651/head - down $207 from last week, with the 975 head reaching an 88% clearance. From Miriam Vale, Central Queensland, a line of 104 Brahman steers aged 6-10 months old and averaging 222kg lwt returned $1,400/head, $140 over the reserve price.

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

Listings of medium steers were steady on last week, with the 1,137 head of 280-330kg steers reaching an 86% clearance but averaging $174 cheaper, at $1,895/head. From Merriwa, NSW, a line of 40 Shorthorn steers aged 12-13 months old and averaging 321kg lwt returned $2,100/head, or 654c/kg lwt. The 2,402 head of 330-400kg steers on offer sold to an 81% clearance and averaged $2,201/head – up $55. From Geranium, SA, a line of 66 Angus steers aged 9-12 months old and averaging 378kg lwt returned $2,655/head, $310 over the reserve price.

400kg+ steers averaged $2,477/head across the 1,596 head on offer, an increase of $54 on last week. From Uralla, NSW, a line of 52 Red Angus cross steers aged 12-15 months old and averaging 438kg lwt returned $2,275/head, $260 over the reserve price.

A larger offering of heifers with variable quality was reflected in lower prices for all categories this week. Light heifers averaged $1,052/head across the 275 listed, reaching a 92% clearance. A 33% rise in the number of 200-280kg heifers, to 1,343 head, saw the category fall $25 to average $1,637/head - reaching an 83% clearance. From Coonabarabran, NSW, a line of 75 Angus heifers aged 9-11 months old and averaging 248kg lwt returned $1,900/head, or 766c/kg lwt.

Listings of 280-330kg heifers increased 71% on last week, to 1,375 head, which reached 83% clearance. The higher offering, along with selective buying on quality and location contributed to the average price falling $136, to $1,877/head. From Stamford, North Queensland, a line of 188 Brahman heifers aged 12-15 months old and averaging 329kg lwt returned $1,460/head, $120 over the reserve price.

Listings of 330-400kg heifers were steady on last week, with the 1,152 head offered averaging $2,179 – down $23 on last week and recording 72% clearance. From Warrnambool, Victoria, a line of 63 Angus heifers aged 10-12 months old and averaging 335kg lwt returned the top price of $2,600/head, or 777c/kg lwt - travelling to a buyer in Kelso, NSW. Numbers in the 400kg+ category came back, with the 277 head averaging $154 lower at $2,336/head.

An offering of 1,321 PTIC heifers was met with robust competition and a strong clearance of 81%, while average prices fell $69, losing some of last week’s gains, to average $2,572/head. From Cecil Plains, Southern Queensland, a line of 67 Hereford PTIC heifers aged 24-30 months old and averaging 464kg lwt returned $2,465/head - $190 over the reserve price.

Higher listings of PTIC cows were also in demand, with prices increasing $72 to average $2,883/head. From Milawa, Victoria, three lines of a total 137 Angus PTIC cows aged six years old and averaging 647kg lwt all returned $3,050/head, $250 over the reserve price.

From Warren, NSW, a line of 19 Shorthorn station mated cows with calves at foot returned $3,580/head. The cows were eight years old and averaged 675kg lwt, while the calves, sired by a Shorthorn bull, were 2-3 months old and averaged 117kg lwt.

NOTE: Prices as at 2pm, Friday 9^th September 2022