Weekly Cattle Comments - 16.12.22

Listings dropped away for the final AuctionsPlus commercial cattle sale of 2022, down 48% from last week to 9,679 head – the lowest weekly level since August. The 2022 spring supply surge took longer to take off than in previous years, but has stayed higher for longer, leading to 15% and 31% higher supply over the last six weeks compared to 2020 and 2021, respectively. The slide in cattle prices appears to have found somewhat of a bottom in the past week, as vendors hold back numbers in response to the ample feed, drier weather and lower market.

Value over reserve bounced back to a $151/head average this week, as vendors adjusted their reserves lower. The overall clearance rate was steady at 53%, as buyers remained watchful and seem happy to wait until after the Christmas break to see where the market restarts. Listings were lower across the board this week, while a surge of PTIC heifers offered out of Queensland supported smaller falls in breeding stock numbers.

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

Steer listings were met with cautious demand, as lower offering across the board were not enough to support higher prices. Heavier lines were generally better supported than the light steers. The 200-280kg category of steers registered a reduced offering of 428 head, averaging $1,330/head – down $253 on last week for a 71% clearance rate. From Condamine, Southern Queensland, a line of 60 Droughtmaster cross steers aged 8-10 months old and averaging 246 kg lwt returned $1,580/head - $100 over the reserve price.

280-330kg steers were the largest steer offering, with 758 head averaging $1,617/head – up $61 on last week and reaching a 69% clearance rate. From Tatong, Victoria, a line of 12 Angus steers aged 11-12 months old and averaging 307kg lwt returned $1,800/head, or 586 c/kg lwt, and will travel to The Lagoon, NSW.

648 head of 330-400kg steers averaged $1,810/head – down $20 for a 65% clearance rate. From Yundi, SA, a line of 21 Angus steers aged 12-13 months old and weighing 346kg lwt returned $1,710/head, or 494c/kg lwt. Heavy steers listings fell to 738 head and averaged $2,100/head – up $16 on last week. From Boggabilla, NSW, a line of 70 Hereford steers aged 16-22 months old and weighing 477kg lwt returned $2,121/head, or 445c/kg lwt.

The heifer categories were a similar story, with lower offerings across the board. Heavier heifers experienced stronger competition than the light heifers, while some quality lines of future breeders peaked buyer’s interest. Listings of 200-280kg heifers fell to 911 head and averaged $1,283/head. From Winton, Western Queensland, a line of 40 Santa Gertrudis heifers aged 6-14 months old and weighing 225kg lwt returned $1,100/head - $300 over the reserve price.

Heifers weighing 280-330kg averaged $1,631/head across the 270 head listed – down $243 from last week for a 30% clearance. From Ballandoran, NSW, a line of 20 Angus heifers aged 13-14 months old and averaging 309kg lwt returned $2,000/head - $550 over reserve. 330-400kg heifers were well supported with the 680 head averaging $1,784/head – up $32 on last week for a 60% clearance. From Rolleston, Central Queensland, a line of 77 Santa Gertrudis heifers aged 12-14 months old and weighing 362kg lwt returned $1,730/head, or 478c/kg lwt.

Heavy heifers averaged $2,079/head across the 181 head offered – up $187 on last week and reached a 55% clearance rate. From Mandurama, NSW, a line of 27 Angus heifers aged 16-17 months old and weighing 416kg lwt returned $2,180/head, or 524c/kg lwt.

PTIC heifers were the feature of the sale this week, as the 2,668 head accounted for over a quarter of the total listing. Average prices fell by $396, to an average of $2,366/head - reaching a 61% clearance rate. Many lots were sold in groups from the same vendor this week. From Glenhope, Victoria, a line of 34 Angus PTIC heifers aged 21-22 months old and averaging 522kg lwt were sold in two even lots and returned $3,420/head and $3,440/head, respectively,

The offering of PTIC cows decreased to 643 head this week and averaged $2,549/head – down $198 from last week and registering a 74% clearance rate. From Inverell, NSW, a line of 29 Ultrablack PTIC cows aged three-to-four years old and averaging 564kg lwt returned $3,230/head and will travel to a buyer in Meningie, SA.

From Terang, Victoria, a line of 35 Angus cows station mated to Angus bulls with 35 Angus calves at foot returned $3,600/head. The cows were five years old and averaged 547kg lwt, while the calves were two-to-eight weeks old and averaged 122kg lwt.

Note: Prices as at 2pm Friday, 16th December, 2022

Table 1: AuctionsPlus National Cattle Prices

Table 2: AuctionsPlus Queensland Cattle Prices

Table 3: AuctionsPlus Angus Cattle Prices