Listings in AuctionsPlus weekly commercial cattle sales decreased slightly to 13,769 head this week. The average value over reserve dropped sharply to $52 while clearance rates improved to 44%, indicating that vendors are adjusting reserves lower. Listings from Queensland were down 24% this week, as rain-induced logistical issues restricted access for assessment and transport of stock.
The selective buying that we have seen since this time in 2022 could be better described as ‘cherry picking’ in the current market. This particularly applies to breeding stock lines where average prices have held up relatively well, however, clearance rates are at unusually low levels. If you browse the auction results closely, there are many lots at reasonable prices that are not getting any attention. Whereas a select few lots are hitting quite high prices in the current market. This would suggest that buyers are cherry picking a certain article and not necessarily concerned with the ‘value-for-money’ options.
Table 1: AuctionsPlus National Weekly Cattle Prices
Table 2: AuctionsPlus Queensland Cattle Prices
Table 3: AuctionsPlus Angus Cattle Prices
The 200-280kg steer category registered a larger listing of 1,779 head and averaged $1,181/head – down $48 from last week for a 65% clearance rate. From Inglewood, Southern Queensland, a line of 56 Angus steers aged 7-8 months old and weighing 259kg lwt returned $1,350/head, or 522c/kg lwt.
Heifers weighing 280-330kg registered a larger listing of 1,114 head and averaged $1,136/head – down $89 from last week for a 42% clearance rate. From Warren, NSW, a line of 90 Angus heifers aged 9-12 months old and weighing 293kg lwt returned $1,160/head, or 396c/kg lwt.
PTIC heifer listings fell to 1,934 head and averaged $1,746/head for a clearance rate of 8%. From Narrandera, NSW, a line of 27 Angus PTIC heifers aged 23-24 months old and weighing 507kg lwt returned $1,890/head, $140 over the reserve price.
PTIC cow listings dropped 24% to 1,233 head and averaged $1,817/head – up $125 on last week for a 60% clearance rate. From Bollon, Western Queensland, three even lines of 50 Brahman PTIC cows aged 6-7 years old and weighing 514kg lwt returned $1,250/head.
Note: Prices as at 2pm Friday, 17th March 2023.
Table 1: AuctionsPlus National Cattle Prices
Table 2: AuctionsPlus Queensland Cattle Prices
Table 3: AuctionsPlus Angus Cattle Prices
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