Weekly Cattle Comments - 18.08.23

AuctionsPlus commercial cattle listings fell to 10,499 head, decreasing by 12%. The smaller offering did little to support the market indicators with clearance slipping to 43% and Value Over Reserve (VOR) falling to $36. The average VOR for August is currently $37, this is the lowest monthly VOR since August 2019. As expected in this article, listings of feeder steers are starting to build. 811 steers over 400kg were offered this week which is 135% higher than last week and more than double the 200 - 400 head range seen since May.

The ABS released their June quarter figures for slaughter and production on Thursday which revealed a female slaughter ratio (FSR) of 48%. This is the first quarter the FSR has been over the 47% benchmark since 2020, and is the first confirmation that we are approaching a herd liquidation phase due to dryer seasonal conditions.

Fortunately, increased exports to markets such as the US are providing some support to cattle prices against the weight of higher supply.

Table 1: AuctionsPlus National Weekly Cattle Prices
Table 2: AuctionsPlus Queensland Cattle Prices
Table 3: AuctionsPlus Angus Cattle Prices
Report: Interactive Market Dashboard

Steers

Steers 200.1-280kg registered a smaller offering of 1,831 head and averaged $890/head - up $92 on last week for a 62% clearance. Prices ranged from 319 - 377c and averaged 341c/kg lwt. From Springsure, Central Queensland two even lines of 114 Droughtmaster Cross steers aged 8 to 10 months old and weighing 270kg returned $991/head, or 367c/kg lwt.

Steers 330.1-400kg registered a smaller offering of 990 head and averaged $1,134/head - up $24 from last week for a 53% clearance. Prices ranged from 289 - 351c and averaged 325c/kg lwt. From Glenhope, Victoria a line of 62 Angus/Angus steers aged 11 to 12 months old and weighing 376kg returned $1,280/head, or 340c/kg lwt.

Heifers

Heifers 200.1-280kg registered a smaller offering of 850 head and averaged $568/head - down $51 from last week for a 23% clearance. Prices ranged from 202 - 334c and averaged 225c/kg lwt. From Lyndhurst, NSW a line of 49 Angus/Angus heifers aged 7 to 11 months old and weighing 279kg returned $700/head, or 251c/kg lwt.

Heifers 330.1-400kg registered a smaller offering of 693 head and averaged $1,062/head - up $27 from last week for a 28% clearance. Prices ranged from 242 - 323c and averaged 278c/kg lwt. From Moura, Central Queensland a line of 56 Santa Gertrudis/Santa Gertrudis heifers aged 20 to 23 months old and weighing 380kg returned $1,020/head, or 268c/kg lwt.

Breeding Stock

PTIC Heifers registered a larger offering of 687 head and averaged 1,207/head - down $102 from last week for a 30% clearance. From Ogmore, QLD a line of 40 Brahman/Brahman heifers aged 18 to 36 months old and weighing 562kg returned $1,330/head.

PTIC Cows registered a larger offering of 581 head and averaged $1,405/head - up $251 from last week for a 7% clearance. From Peranga, Southern Queensland a line of 30 Droughtmaster/Droughtmaster cows aged 3 to 7 years old and weighing 578kg returned $1,420/head, $180 over the reserve price.

Note: Prices as at 2pm Friday, 18th August2023

Table 1: AuctionsPlus National Cattle Prices

Table 2: AuctionsPlus Queensland Cattle Prices

Table 3: AuctionsPlus Angus Cattle Prices

AuctionsPlus Interactive Cattle Market Report