Weekly Cattle Comments - 10.02.23

The first full week of February saw 12,014 head offered in the AuctionsPlus commercial cattle sales – up 26% on last week but 43% below the same week last year.

As rising interest rates continue to bite into household budgets, cash flow is becoming more important than seasonal conditions in influencing buying and selling decisions. Producers are carefully considering their buying options and taking a cautious approach while many vendors are willing to hold onto stock rather than sell due to residual feed and unappealing prices.

Steer categories were firm this week while heifer categories slipped further, suggesting stronger feedlot activity and subdued restocker demand. Prices for breeding lines were mostly lower this week while PTIC heifer listings contributed over 20% of the week’s online offering. Value over reserve was back 16% to $98 this week while clearance rate jumped 7% - indicating that vendors are lowering reserve expectations.

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

Light steers bucked the firmer trend and fell $63 to average $650/head across the 71 head offered. 200-280kg steers averaged $1,362/head – up $178 on last week. The 700 head sold to strong demand reaching an 82% clearance rate. From Cooma, NSW, a line of 78 Hereford/Angus steers aged six-seven months old and averaging 248kg lwt returned $1,350/head, or 543c/kg lwt.

Steers weighing 280-330kg were also met by strong demand, reaching 89% clearance across the 744 head and averaging $1,484/head – up $65 on last week. From Longreach, Queensland, a line of 126 Brahman Cross steers aged six-twelve months old and averaging 297kw lwt returned $1,280/head.

330-400kg steers were boosted by a strong top price, averaging $1,904/head across 958 head and achieving 57% clearance. From Drillham, Queensland, a line of 105 Purebred Wagyu steers aged 16-22 months old and averaging 364kg lwt returned the top price of $3,000/head. Heavy steers were firm this week despite double the listings of last week. 975 head average $1,892/head – up $20 on last week.

Heifer listings increased by 40% this week but were met with subdued demand from buyers. Light heifers averaged $599/head across the 110 head offered, selling to a 62% clearance rate. Listings of 200-280kg heifers increased 42% on last week with 890 head averaging $1,200/head – up $23 on last week. From Bingara, NSW, a line of 86 Angus heifers aged six-eight months old and averaging 262kg lwt returned $1,360/head, or 519c/kg lwt.

280-330kg heifers averaged $1,275/head across the 598 head offering, reaching a subdued clearance rate of 33%. This result was heavily influenced by a large line of 116 Charolais/Composite heifers out of Biloela, Queensland. Aged 12-16 months old and averaging 295kg lwt, the heifers returned $1,200/head.

Listings of 330-400kg heifers increased 41% to 1,075 head and averaged $1,483/head – down $27 from last week for a 60% clearance rate. From Selbourne, Tasmania, a line of 19 Poll Hereford heifers aged 16 months old and averaging 372kg lwt returned $1,610/head. Heavy heifers found good support despite a 67% rise in listings. The 703 head offering averaged $1,724/head – up $7 on last week.

The breeding female categories were again dominated by PTIC heifers with 2,585 head offered. Weak demand saw most categories fall, with PTIC heifers averaging $2,249/head – down $111 from last week for a 35% clearance rate. From Harden, SW Slopes and Plains, NSW, a line of 36 Angus PTIC heifers aged 17-18 months old and averaging 474kg lwt returned $2,720/head - $320 over the reserve price.

PTIC cows reached a reasonably strong clearance rate of 71% but fell $290 to average $2,118/head across the 913 head offered. From Cunnamulla, Western Queensland, 240 Brahman PTIC cows split into four even lines aged 3.5-4.5 years old and averaging 479kg lwt returned $1,700/head - $200 over the reserve price.

From Clermont, Central Queensland, a line of 80 Droughtmaster station mated heifers with 80 calves at foot returned $2,520/head. The heifers were two-three years old, averaged 418kg lwt and were rejoined to Droughtmaster bulls, while the calves were one-six months old and averaged 110kg lwt. 

Note: Prices as at 2pm Friday, 10th February 2022

Table 1: AuctionsPlus National Cattle Prices

Table 2: AuctionsPlus Queensland Cattle Prices

Table 3: AuctionsPlus Angus Cattle Prices