Weekly Cattle Comments - 16.09.22

While there were plenty of twists-and-turns in this week’s AuctionsPlus commercial cattle sales, final results for the week were generally higher, seeing young heifer lines regaining most of last week’s slippage. With total offerings back 15% on last week, at 12,318 head, competition was again fierce through the lighter lines, while buyers continue to be very watchful through the proven breeders.

Final sale value over reserve continues to sit at historically high levels, averaging $206/head this week, while average clearance rates hit 78% at the conclusion of the sales.

If the last two weeks of widespread rainfall through the eastern states is any indication of the rejuvenated La Nina seasonal outlook, the ability to access and move cattle into the summer months may be one of the largest impediments for the market to overcome. While the recent wet conditions provide producers with flexibility and options heading into the final quarter of the year, reflected in the very tight offerings in recent months, there are always bills to be paid and the desire for cash flow will start to influence marketing decisions. Indeed, producers traditionally sell for two reasons: no grass, or no cash – in the coming months it looks like income will have a larger influence on selling decisions than feed supplies.

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

The seemingly never-ending search for top quality light steers pushed 200-280kg lines higher this week, with the 895 head offered averaging $236/head higher on last week, at $1,881/head – with a 96% clearance rate. From Beaudesert, Southern Queensland, a line of 25 Ultrablack weaned steers aged 7-12-months-old and averaging 268kg lwt returned $1,800/head. It was a similar market for 280-330kg steers, with a tight supply helping prices edge higher on last week, albeit by only $22, to average $1,931/head. The 710 head offered finished with a 72% clearance rate.

The 330-400kg steer category was the only one to take a step back this week, finishing $19 head lower, at $2,171/head. With a comparatively large offering of 1,998 head, the clearance rate of 85% reflected the fierce bidding across many of the lines. From Wantabadgery, Riverina NSW, a line of 84 Poll Hereford yearling steers aged 12-13-months-old and averaging 338kg lwt returned $2,300/head - $170 over reserve.

Feeder steers remained steady this week, with the 1,535 head offered selling to an 82% clearance rate and averaging $16 higher on last week - at 584c/kg lwt. From Nyngan, Central West NSW, a line of 33 Brangus feeder steers aged 10-14-months-old and averaging 414kg lwt returned $2,170/head.

The young heifer market regained much of last week’s losses, with the largest category, 330-400kg, kicking $114 higher on last week, to average $2,288/head. From Caroona, NSW Northwest Slopes and Plains, a line of 57 Angus NSM future breeder heifers aged 13-14-months-old and averaging 397kg lwt returned $2,620/head.

For the lighter lines, 200-280kg heifers edged $37 higher on last week, to $1,698/head, with a healthy 88% clearance rate for the 1,039 head offered. 280-330kg lines averaged $306 higher, more than making up for last weeks $136 decrease, to average $2,196/head.

There was a very limited offering of 400kg+ heifers, with the average for the week slipping $30, to $2,274/head. From Hughenden, North Queensland, a line of 106 Charolais/Santa feeder heifers aged 15-21-months-old and averaging 419kg lwt returned $2,180/head, or 520c/kg cwt.

There was no respite to the very tight supply of proven breeders this week, with the 1,270 PTIC heifers selling to a 54% clearance rate at the immediate close of the market. PTIC heifers averaged $153 higher on last week, at $2,717/head.

PTIC cows were the only other proven breeder category of significant size, with the 671 head offered selling to an 80% clearance rate – with prices back $511 on last week, to average $2,385/head. From Wangolina, Lower SE SA, a line of 57 Shorthorn PTIC cows aged 3–10 years old, 511kg lwt, joined to Shorthorn bulls and EU accredited returned $2,320/head.

NOTE: Prices as at 2pm, Friday 16^th September 2022

Table 1 - AuctionsPlus National Cattle Prices 

Table 2 - AuctionsPlus Queensland Cattle Prices 

Table 3 - AuctionsPlus Angus Cattle Prices