A second consecutive week of large numbers offered exclusively online through AuctionsPlus was matched by variable prices across several categories, especially through the lighter steer and heifer lines. Offerings for the week reached 19,435 head – back 2% on the previous week, largely due to lower offerings through the mid-weight heifer lines.
Demand for light stock remains unflinching, with further good falls through central NSW and large swathes of inland Queensland continuing to see grass fever in full swing. However, the supply of suitable light stock remains exceptionally tight, as those that have them are in no rush to sell, given the ample feed and anticipated price prospects heading towards autumn.
While the very limited numbers of steers less than 200kg offered through AuctionsPlus has seen average prices fluctuate in the past two weeks, the clearance rate for the category was well above 80% this week. In contrast, the clearance rate for the two heaviest reported steer lines, 330-400kg and 400kg+, fell significantly this week, back to 57% and 58%, respectively. Reports suggest that some buyers are becoming increasing cautious about risk-return balance from purchasing the heavier lines, with averages this week at $1,676/head for 330-400kg steers, and $1,884/head for steers exceeding 400kg.
PTIC heifers registered the largest supply across the listed categories this week, with 4,138 head exclusively offered. However, the clearance rate remained somewhat constrained, at 69% for the week, which was up from the 59% in the previous week (4,463 head). Further analysis of the bid-offer spread showed that there continues to be significant distance between buyers and sellers for the unsold lots, with many of the sellers not revising their reserves lower post sale, given the flexibility the current feed supplies provide. PTIC heifers this week averaged $2,238/head, with the top price hitting $3,060/head.
Prices for PTIC cows with CAF registered a significant jump in prices this week, largely due to some very high-quality lines offered – averaging $471/head higher, at $3,213/head. Some excellent bloodline cows, with heavier CAF had several lots competing for the weekly high, which hit $4,630/head.
Note – all prices reported below are as at the close of reporting of 5pm, Sunday 14th February.
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